PARIS — The French government has told PSA and Renault they are entitled to help such as guarantees on loans and leeway on bills as it seeks to help companies cope with the fallout from the coronavirus pandemic.
France outlined a series of measures this week to help businesses survive the crisis, including 300 billion euros ($325 billion) in government loan guarantees, and the deferral of taxes and payroll charges for those that need it.
Finance minister Bruno Le Maire held a call with PSA boss Carlos Tavares and Renault executives including Chairman Jean-Dominique Senard on Wednesday to discuss the car industry’s prospects, and said they would be entitled to these measures too if needed, a ministry official said.
“The situation is extremely clear … it is out of the question to see big French companies, industrial icons disappear,” Le Maire told BFM Business radio, ahead of his meeting with the automakers. “If to protect our national industrial heritage, we have to resort to…