Main points (to make up for the clickbaity title):
Challenge to bring down European EV manufacturing costs
Lower costs to close price gap with China EVs
China EV sales account for 8% of European total through July
Renault’s R5 EV to be 25%-30% cheaper than Scenic/Megane
MUNICH, Sept 4 (Reuters) - Europe’s carmakers have a fight on their hands to produce lower-cost electric vehicles (EVs) and erase China’s lead in developing cheaper, more consumer-friendly models, executives said at Munich’s IAA mobility show.
“We have to close the gap on costs with some Chinese players that started on EVs a generation earlier,” Renault (RENA.PA) CEO Luca de Meo told Reuters at the car show, adding when manufacturing costs decline, prices will also go down.
…continues
When the average share is held for less than 6 months it should come as no surprise that they sold their future for short term gain.
No argument there.
That’s where governments should have stepped in and said “woah. WTF are you guys doing?”
But in a free market economy, it is considered bad when governments tell companies what to do, usually.