Ghosn Stands Neutral on Proposal for Government Aid to Detroit Automakers

Automobile Staff
Carlos Ghosn

While at the Los Angeles Auto Show, Renault-Nissan President and CEO Carlos Ghosn declined to take a stance for or against the proposal to provide government aid the American automakers. He expressed empathy for the American automakers, but said he remained neutral on a possible government bailout.

"The year 2009 will see absolutely unique and dangerous conditions for any carmaker," said Ghosn regarding the credit situation. "The likelihood of some companies going bankrupt is very high. That creates very turbulent conditions for the whole industry."

Ghosn did praise the $25 billion in loans given to the auto industry for the development of alternative energy vehicles , and commented that U.S. policy "is being taken as a benchmark. We will see similar programs in other countries, including Europe and Japan." The only other detail he would give was that the current financial crisis would rule out any possible merger between his company and Chrysler; an idea that has been considered over the past year. Ghosn did use the opportunity to say that Renault-Nissan would be producing up to a million electric vehicles a mere two years after the first mass produced electric vehicles begin customer testing. Source: The Detroit Free Press

New Car Research

our instagram

get Automobile Magazine

Subscribe to the magazine and save up to 84% off the newsstand price


new cars

Read Related Articles