Renault is considering cutting the number of sub-contractors it uses to develop car models in its engineering division potentially saving the carmaker between 100 million to 200 million euros, two sources close to the company said.
) is considering cutting the number of sub-contractors it uses to develop car models in its engineering division potentially saving the carmaker between 100 million to 200 million euros, two sources close to the company said.
Renault was already struggling before the coronavirus crisis hit sales and brought production to a halt. In February, the group reported its first loss in 10 years on faltering demand and lower income from its Japanese alliance partner Nissan . This would involve state-guaranteed loans to help the company shore up its liquidity in the wake of similar deals for the likes of Air France-KLM .
Renault’s engineering business, led by former PSA executive Gilles Le Borgne since January, is expected to be central to the cost cutting plan.
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