Politics
Macron Pledges Additional Stimulus to Help French Carmakers
- France plans over 1 billion euros of car purchase incentives
- Priority is to cut stocks of unsold cars, avoid bottlenecks
Employees work on the Renault Zoe electric automobile assembly line at the Renault SA factory in Flins, France.
Photographer: Christophe Morin/BloombergThis article is for subscribers only.
President Emmanuel Macron unveiled a raft of measures aimed at reviving France’s struggling car industry and drawing manufacturing back to local factories.
The plan includes incentives for the purchase of electric cars, cash-for-clunkers to encourage consumers to trade in older, more polluting cars and subsidies for struggling car-parts makers. The total of roughly 8 billion euros ($9 billion) also includes state-backed loans such as 5 billion euros slated for Renault SA.