Renault and problems with Money

Reported today that France's finance minister has said Renault could disappear. Company looking for a $5.5B loan to survive but the government wants Renault to build more green cars etc. Could have an effect on the F1 team.

https://edition.cnn.com/2020/05/22/business/renault-france-bruno-le-maire/index.html

 

If I read correctly what French newspapers have said, the Economy Minister gave conditions for a possible rescue of Renault by the government.
Renault would need to bring back some of its production in France as a pre-requisite to qualify for a state loan.
The position of the French government is that the French taxpayers' money shouldn't be invested in foreign countries.
In recent years, Renault relocated several plants abroad with the encouragement of the European Union.
Renaults are increasingly made in Spain, Slovenia, Turkey, and South Korea, less and less in France.
The announcement that Renault intends to close 4 more plants in France to reduce cost didn't go down well with the unions.

I don't expect the F1 team to survive much longer. I think Ricciardo is lucky to have found a berth at McLaren at short notice.

 

The press is asking if Ricci knew what was waiting for Renault as a Corporation given the not good economic environment. He moved thinking Renault as an entity are in trouble.

 

That's my assumption as well re: Ricciardo.

He made a smart move regarding Renault F1's "iffy" situation, McLaren getting Merc PU's, and also getting a "No. 1 status" at Mclaren.

Ricciardo and Lando are going to have a good time.....meaning they both are "comedic" characters out of the car.

 

From Auto Express, and I agree with you other chaps, Ricci knew that money was short (probably told the F1 team didn't have the resources to develop the car as it needed). And another thought, sounds like the French (as are the Germans, and Italians) are now thinking that Europe as an entity is nearing its end. Good that the UK got out of it already. Sorry to be political.

https://www.autoexpress.co.uk/renault/352328/renault-rumoured-close-factories-and-axe-alpine-a110?_mout=1&utm_campaign=autoexpress_newsletter&utm_medium=email&utm_source=newsletter

 

Certainly Renault is not in good shape, which does not bode well for its F1 future - McLaren does not seem to be financially shining either, though.

 

Yep, Ricciardo may have just jumped out of the frying pan into the fire !

I hope not; I don't care about Renault in F1, but I would miss McLaren.

 

Moderator please merge with main Renault thread, no point having two.

 

RENAULT LOOK TO SELL TEAM FAST, AMID FRENCH BAILOUT

https://thejudge13.com/2020/05/22/renault-look-to-sell-team-fast-amid-french-bail-out/

Rumours are now circulating that Renault have had some talks with an interested party regarding selling the F1 team.

 

Just for ****'s and grins, Honda should buy the team. That's my $0.02.

BTW, Cyril has said just recently that Renault isn't leaving F1 amid rumors that they are.

 

What about Flav?

 

Buying his own F1 team??? I don't really see it.

Honda's engine has finally come up the ranks and has surpassed Renault.

Honda needs an F1 team now plus they currently have the cash to support and fund one.

 

Be careful... you might be the winning bidder with that offer!

 

Like the other car makers, Honda is suffering from the economic situation, so caution will be needed to survive the crisis.

Its sales in Europe had dropped BEFORE Covid-19, forcing them to close their factory in Swindon (UK).

However Honda was doing well in the States and China.

 

If Honda were to buy a team, surely it would be redbull...

As for Renault - even without a financial crisis their F1 team is in a bad way. Average chassis, worst engine, second rate drivers, but a budget to rival the top teams. That’s not a great investment return and as a shareholder I would be questioning whether it makes sense...

Sad to see the whole Renault group in trouble though. The French gov cannot afford to let them go bust even though a good chunk of their production is overseas. They will get the cash.

 

Renault will get their bailout, but I don't see the team making it.

 

I don't see that happening. They left F1 before. They couldn't find any advertising then and they certainly won't find any now. I could be wrong, but it would still be a weird decision.

 

+1. Who is looking for an F1 team none can race currently. Travel is limited etc etc. How long can Liberty exist with F1 is a good question. Liberty to have races must almost pay now. The maths don’t make sense. Some bored billionaire might have Renault interest? How long does Alfa have now? Racing is a luxury and is not required to sell a car. When contemplating a vehicle purchase, F1 or racing are not in the decision matrix lol!