Coronavirus: France announces €8bn rescue plan for car industry

Sun Online Desk

27th May, 2020 12:03:28 printer

Coronavirus: France announces €8bn rescue plan for car industry

The French government has announced an €8bn (£7.1bn) rescue plan for its car industry, which has been severely impacted by the coronavirus pandemic.

President Emmanuel Macron's proposal includes €1bn to provide grants of up to €7,000 to encourage citizens to purchase electric vehicles.

It also puts money toward investments to make France a centre for electric vehicle output, BBC reported.

The plan comes as the industry braces for thousands of job cuts.

In return for the relief, the two main French car producers Renault and PSA have promised to focus production in France.

 

 


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