Luca de Meo, Chief Executive Officer of Groupe Renault, attends a news conference about Renault electric strategy during Renault eWays event in Meudon, France, October 15, 2020. REUTERS/Benoit Tessier/Files

BARCELONA (Reuters) – French carmaker Renault will unveil an eight-year plan next year as the group contends with a demand slump exacerbated by the coronavirus crisis, Chief Executive Luca de Meo said in a newspaper interview published on Sunday.

De Meo had flagged last month that Renault might have to dig deeper than the 2 billion euros ($2.3 billion) of cost cuts it has already outlined to get back on its feet after a sustained downturn in earnings since 2018.

“The next two years will be tough. We have an eight-year plan that we will be announced in January, and we can turn it all around,” he told El Pais newspaper without disclosing specific detail on the plan.

($1 = 0.8534 euros)

Reporting by Graham Keeley; Editing by David Goodman

Via Reuters Finance

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