Will Renault Disappear?

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.

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