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France: State aid to boost hybrid car plans to Renault

By  |  October 2, 2013

The European Commission announced the approval of nearly $28 million in state aid to car manufacturer Renault to boost the company’s development of diesel hybrid automobiles for commercial sale, according to a press release.

France allotted the state aid to Renault in part of the company’s plans to conduct so-called HYDIVU research; the Commission has ruled that the aid complies with EU rules.

Reports say Renault is planning to develop a hybrid van, which would “considerably” reduce CO2 emissions.

In a statement, European Commissioner Joaquin Almunia said the project should contribute “to the EU’s targets for innovation, the environment and energy security, without affecting competition.”

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