Renault is to plough new investment of EUR300m (US$398m) into a French engine and gearbox plant.

The news came as Renault COO, Carlos Tavares, appeared before the Economic Commission of the French Senate in Paris and as employment issues come to the fore ahead of imminent Presidential elections in the country.

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“Cléon is one of the main plants of Renault in the production of engines and gearboxes,” said a Renault statement. “This investment will also be used for the electric motor that will equip Renault ZE cars.

“This investment confirms the will of Renault to invest in the industrial future of France.”

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