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France Injects USD 8.8 billion in Electric Car Industry

27May By PriyankaNo Comments

Automobile

France Injects USD 8.8 billion in Electric Car Industry

Paris, May 27 (AP): France is injecting more than USD 8.8 billion to save the country's car industry from huge losses wrought by virus lockdowns, and wants to use the crisis to make France the No. 1 producer of electric vehicles in Europe. Starting next week, consumers can get up to 12,000 euros from the government for buying an electric car under the “historic” plan unveiled Tuesday by French President Emmanuel Macron. “Our country wouldn't be the same without its great brands Renault, Peugeot, Citroen,” Macron said, decrying an “unprecedented crisis” for the industry that has seen production plunge more than 90 percent in France alone. Carmakers and governments around the world are grappling with similar losses. Politicians are divided over whether and how to bail out an indust...

Trump says “Major Decisions” on Syria Likely in 24-48 Hours

US President Donald Trump condemned the recent chemical attack on Syria describing it as "atrocious and heinous" while declaring that his administration will come with some "major decisions" on Syria within next 24-48 hours. Trump said, It was an atrocious attack, totally horrible, we don't see like that. We are very concerned that a thing can happen. This is about humanity, it can't be allowed to happen. Trump further informed that the situation is being studied in closely and a major decision is likely to come in a day or two. Earlier in 2015, Vladimir had sent troops to protect its most important military base in the Middle East, Syria to protect and defend its longtime ally-the regime of Bashar al Assad. Most analysts believe that Syrian army would be unable to function prop...

France Becomes The First Country In The World To Ban Oil & Gas Production

The parliament of France has approved to pass a law to ban all exploration and production of oil and natural gas by the year 2040 within the country and its overseas territories. Under that law that passed a final vote on Tuesday, the permits of existing drills will not be renewed and no new exploration licenses will be granted. The French government claims the ban is a world first. However, it is largely symbolic since oil and gas produced in France accounts for just 1% of domestic consumption. The rest is imported. Environment Minister Nicolas Hulot says the law shows "current generations can take care of future generations." The ban is part of a larger plan to wean the French economy from fossil fuels and to fulfill France's commitments under the Paris climate agreement to cur...