French government immediately inject fresh funds for the French car assembly company, Renault. Why?
In the midst of global financial crisis that is also spreading to the motor sports including Formula One (F1), Renault became one of the company also team that is promised to retain employees.
Renault will not only receive 3 billion euros. Because French President Nicolas Sarkozy still require the manufacturer and does not open the sack employees.
“This is not a gift, also not the subsidy. We gave it in the form of a loan with an interest rate of six percent,” Sarkozy told to onestopstrategy, Tuesday (10/2/2009).
According to him, this loan must be paid regularly for five years.
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Tags: f1, f1 2009, f1 racing, f1 racing 2009, formula 1, formula 1 2009, president nicolas sarkozy, renault f1