Home Business Renault CEO says eight-year plan can flip spherical carmaker

Renault CEO says eight-year plan can flip spherical carmaker

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© Reuters. Renault updates its electrical technique

BARCELONA (Reuters) – French carmaker Renault (PA:) will unveil an eight-year plan subsequent 12 months because the group contends with a requirement stoop exacerbated by the coronavirus disaster, Chief Govt Luca de Meo mentioned in a newspaper interview printed on Sunday.

De Meo had flagged final month that Renault might need to dig deeper than the two billion euros ($2.3 billion) of value cuts it has already outlined to get again on its toes after a sustained downturn in earnings since 2018.

“The subsequent two years shall be powerful. Now we have an eight-year plan that we’ll be introduced in January, and we are able to flip it throughout,” he instructed El Pais newspaper with out disclosing particular element on the plan.

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