ETAPLES, France: President Emmanuel Macron on Tuesday (May 26) announced an 8-billion euro (US$8.8 billion) plan to revive France's auto industry ...
French President Emmanuel Macron , wearing a face mask, speaks with Valeo CEO Jacques Aschenbroich and general manager Alberto Santos as he visits the factory of manufacturer Valeo in Etaples, near Le Touquet, northern France. ETAPLES, France: President Emmanuel Macron on Tuesday announced an 8-billion euro plan to revive France's auto industry by making it the European leader in electric cars, in a boost for a sector brought to its knees by the coronavirus.
Visiting a car factory in Etaples in northern France, Macron said his government would seek to boost flagging customer demand with a subsidy of 7,000 euros for each individual buying an electric car, 5,000 for each company purchase, and 2,000 per hybrid rechargeable car. "In total, the state will provide a bit more than 8 billion euros in aid to the sector," said Macron.France, the home of Renault, Citroen and Peugeot, has seen car sales and revenue slashed by some 80 per cent as a result of a two-month nationwide lockdown to curb the spread of the coronavirus, said Macron."This has never been seen by this sector which represents close to 16 per cent of the revenue of our industrial sector," said the president.
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