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Renault: financial crisis is over

Source: Xinhua
[08:27 September 10 2009]
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Carlos Ghosn

Carlos Ghosn, the head of French carmaker Renault, Wednesday told French newspaper Le Figaro that the financial crisis is over, expecting a gradual recovery for several years.

"While we are still in a depressed economic situation, the financial crisis is clearly behind us," Ghosn said during the interview.

"We are seeing an explosion of investment in technologies by automakers, particularly concerning clean cars, at a time of great financial fragility. This situation is pushing them to work together to share investment," Ghosn added.

Ghosn expected to first see a recovery in the United States and the emerging countries in the first quarter of 2010, followed by the Europe at the end of 2010 or the beginning of 2011.