Villepin gives 400 million to automakers

During his monthly press conference, which was held on Wednesday at the premises of the equipment manufacturer Valeo in Bobigny, the Prime Minister announced at the same time a support plan for the automotive industry of 400 million euros out of three years…


The automobile support plan was expected, so that the sector is experiencing multiple difficulties. According to Dominique de Villepin, the State will commit a total of 400 million euros for innovation and research in the automotive industry over three years (2006-2008). For its part, the Industrial Innovation Agency (AII) will release 120 million euros in 2007, which will add to the 120 million committed in 2006 to support Peugeot's hybrid diesel engine project. In addition, the ceiling for the research tax credit in favor of industry will be doubled in 2007 and will rise to 16 million euros per company.

The Prime Minister also promised 150 million euros over 3 years "to support 20.000 employees in the automotive sector" and allow them to "adapt to changes". He finally invited the automotive industry to negotiate by January 15 on a shortening of payment terms, failing which it could go through "the legislative route".

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Source: extracts from Libération

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