GENEVA: Plans to hold the 2021 Geneva International Motor Show (GIMS) are in peril, after the foundation that organises the event recently rejected a 16.8 million francs loan offer from the Geneva State Council.
The loan offer was made after the motor show's foundation had asked for financial support, following the cancellation of GIMS 2020 due to the coronavirus pandemic.
The losses caused by the cancellation of the GIMS 2020 are estimated at 11 million francs.
However, the loan offer was rejected as the motor show's foundation said it came with unacceptable conditions.
In a statement, the motor show's foundation said the conditions attached to the loan, included the outsourcing of the show.
"This is not acceptable to the foundation. They are in contradiction to the statutes and especially to the purpose of the foundation formulated more than 100 years ago. Furthermore, the organisation of the event in 2021 – a condition linked to the urgency clause of the draft legislation – is very uncertain at the moment."
The motor show's foundation also noted that major GIMS exhibitors had made recommendations for the next edition to be in 2022.
GIMS is the largest event in Switzerland. In 2019, it attracted more than 600,000 visitors and almost 10,000 media representatives.