French President Emmanuel Macron has said on Twitter that his government will “massively” increase its support for the industry, in an attempt to mitigate the financial impact of the coronavirus pandemic.
“The health crisis brought a massive and brutal halt to the French auto industry. It is part of our economy, thousands of jobs concerned. Our support will be massively increased,” Macron tweeted Tuesday.
The French auto industry has been hard-hit by the pandemic. The country’s lawmakers are particularly concerned about carmaker Renault, which was already struggling before the coronavirus outbreak.
France’s Finance Minister Bruno le Maire warned Friday that the company could now “disappear” altogether.
“Renault is in serious financial difficulty,” Le Maire told Europe 1.
Macron will meet with auto industry representatives on Tuesday morning at the Valéo plant in the Pas-de-Calais region of northern France.
He is expected to give a statement outlining the government’s proposed financial aid plan after the meeting.
