The car industry in Europe was put on alert for further job losses on Friday as a French minister warned Renault could disappear if it doesn’t receive help soon. A Japanese news report stated that partner Nissan was considering 20,000 layoffs, with many in Europe.
Renault and Nissan have been in a carmaking alliance over the past two decades and are yet to announce a strategy update next Wednesday.
The French finance minister Bruno Le Maire, the one who is considering a 5 billion euro ($5.5 billion) loan for Renault to help it through the crisis, warned on Friday the company’s future was at risk.
“Yes, Renault could disappear,” he said to Europe 1 radio.
Renault declined to comment on Le Maire’s remarks.