June 2, 2020 / 4:07 PM / a month ago

Renault's state-backed loan carries no major conditions, says chairman

PARIS, June 2 (Reuters) - French carmaker Renault’s chairman, Jean-Dominique Senard, on Tuesday said that the 5 billion euro ($5.6 billion) state-backed loan due to granted by the government comes without any major conditions.

Senard also told franceinfo radio that the company aims to present a new strategic plan, including the vision for its brands, by the end of the year after a new CEO comes on board.

Renault last week unveiled plans to cut about 15,000 jobs, shrink production and restructure French plants. ($1 = 0.8953 euros) (Reporting by Sarah White Writing by Matthieu Protard Editing by David Goodman )

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