Tuesday, March 24, 2009

Heuliez

The government is prepared to invest 10 million euros in Heuliez, a manufacturer of automobile components in Poitou-Charentes. Ségolène Royal's region is prepared to invest an additional 7 million. Royal roiled the waters a bit by suggesting that Heuliez was deliberately being driven into bankruptcy by the government because it is in competition with a subsidiary of the Bolloré group, Vincent Bolloré being the financier who lent the president his yacht shortly after the election. Bolloré denies that this is the case and says that his group stands to profit if Heuliez survives, because it supplies batteries for an electric car prototype that Heuliez is developing.

In any case, what we see here is an attempt to bail out a failing manufacturer with state funds. Who will be next in line?

1 comment:

MYOS said...

Bolloré is a big liar, during the Salon de l'Auto, I think in October, he introduced us to his "Bluecar" (I think), the electric car of the future, ready to seize the French market a year hence.

About Heuliez and its signification:
http://www.usinenouvelle.com/article/edito-heuliez-un-cas-type.161129