Renault has drawn down additional 5 billion euro state-backed loan

French automaker Renault in December drew down an extra 1 billion of its 5 billion euro ($6.1 billion) government-guaranteed loan arranged because of the coronavirus crisis, Deputy Chief Executive Clotilde Delbos informed an online presentation on Thursday.

Renault has now tapped 4 billion euros of the loan, Delbos said, adding that the automaker felt it was wise to use the means at its disposal.

In June 2020, Renault had finalized 5 billion euro state backed loan.