As Macron nears the end of his two-term mandate, scrutiny is mounting on the president’s industrial strategy, with France’s taxes as well as high labour and energy costs among the top grievances for entrepreneurs. The president on Tuesday announced more than EUR1 billion (US$1.2 billion or $1.5 billion) in Stellantis NV electric-vehicle (EV) investments in the country — spending the automaker has not yet confirmed.
(May 28): Michelin and Renault SA are planning additional cost cuts in France just days after President Emmanuel Macron touted the country’s capacity to win new auto-industry investments.
Michelin is considering eliminating 1,500 positions in France over three years, or 9% of its workforce in the country, the maker of tyres said on Thursday. It cited a “highly unstable economic environment” and the burden of French taxes. Renault said it is talking to unions about shutting down a van development facility near Paris.
