Renault executives in industrial espionage probe

• Source: Global Times
• [08:44 January 07 2011]
• Comments

French carmaker Renault suspended three executives under suspicion of industrial espionage after an investigation lasting several months, a source close to the company told Reuters on Wednesday.

This decision was to "protect, without delay, the strategic, intellectual and technological assets of our company," Senior Vice President Christian Husson told AFP Thursday.

"For Renault, this is a very serious incident concerning persons in a particularly strategic position in the company," he added.

The source told Reuters that "it involves people who were caught red-handed for industrial espionage. It's a matter that has lasted several months already."

The source said the three people involved were senior executives, including one individual on the company's management committee.

"Renault is a victim in this story. The group is a bit worried about its electric vehicle (EV) program - it hopes that its leadership in this technology won't be threatened," the source said.

Renault, along with its Japanese alliance partner Nissan Motor Co Ltd, is a fierce proponent of EV technology, with the partners jointly investing 4 billion euros ($5.3 billion) to develop their efforts in this flagship sector.

French Industry Minister Eric Besson warned Thursday that the country was facing "economic war" in light of the espionage at Renault, according to AFP.

Agencies