The French government invests 8 billion euros to revive the car market to become the largest electric car manufacturer in Europe

Published: May 30, 2020 20:02

SMM5, March 30: recently, it has been reported that the French government is investing 8 billion euros in the country's auto industry to save the car market affected by the epidemic, and plans to take advantage of the epidemic crisis to become the number one electric car manufacturer in Europe.

Starting next week, consumers will receive a government subsidy of up to 12000 euros for every amount of electric cars they buy.

Mr Macron said that without great brands such as Renault, Peugeot and Citroen, the country would not be what it used to be. He said he would promote France as Europe's leading producer of environmentally friendly cars.

French economy and Finance Minister Le Meier said that if the government does nothing, Renault will be in danger. He stressed that Renault's transformation was "indispensable". Renault is still in discussions with the government on specific operational issues. It is reported that the 8 billion euros plan to revive the auto industry does not include the 5 billion euros of support previously announced by the government to Renault.

"Click to participate in the second China (Yingtan) Copper Industry Summit Forum and the 15th China International Copper Industry chain Summit"

"these enterprises have signed up! (part of the list of participants is attached)

To sign up for the summit or apply to join the SMM industry exchange group, please scan the code:

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Shanghai Copper Spot Weakness Continues Amid Supply Inflows and Cautious Demand Ahead of Qingming Festival
42 mins ago
Shanghai Copper Spot Weakness Continues Amid Supply Inflows and Cautious Demand Ahead of Qingming Festival
Read More
Shanghai Copper Spot Weakness Continues Amid Supply Inflows and Cautious Demand Ahead of Qingming Festival
Shanghai Copper Spot Weakness Continues Amid Supply Inflows and Cautious Demand Ahead of Qingming Festival
Shanghai copper spot to remain weak tomorrow. On the supply side, the import window is open, raising expectations of further inflows. Some imported cargoes are circulating, keeping spot discounts under pressure. Meanwhile, some smelters are accelerating shipments to reduce inventories before the holiday, adding to supply pressure. On the demand side, downstream buyers remain cautious, mostly purchasing on rigid needs with limited appetite for higher prices. Some pre-holiday restocking ahead of the Qingming festival may offer modest support, but it is unlikely to reverse the overall weak supply-demand balance. In summary, spot quotes against the 2604 contract are expected to hold at current levels.
42 mins ago
Inventory and Copper Prices Both Fell, Suppliers Actively Held Prices Firm [SMM South China Spot Copper]
43 mins ago
Inventory and Copper Prices Both Fell, Suppliers Actively Held Prices Firm [SMM South China Spot Copper]
Read More
Inventory and Copper Prices Both Fell, Suppliers Actively Held Prices Firm [SMM South China Spot Copper]
Inventory and Copper Prices Both Fell, Suppliers Actively Held Prices Firm [SMM South China Spot Copper]
43 mins ago
Consumption Demand in the North China Copper Cathode Market Slowed
47 mins ago
Consumption Demand in the North China Copper Cathode Market Slowed
Read More
Consumption Demand in the North China Copper Cathode Market Slowed
Consumption Demand in the North China Copper Cathode Market Slowed
[SMM North China Copper Cathode Spot Market] During the week, copper prices fluctuated and downstream buyers maintained a wait-and-see sentiment. Consumption demand in the North China copper cathode market slowed compared with mid-to-late March, and spot premiums came under pressure, falling back below spot premium levels in east China.
47 mins ago