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.
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The base car being the lowest tier? There is absolutely a demand for them but production has slowed to allow for increased profits, now the margins are bigger and they don’t want to deliver to the masses because it will eat into their margins if they produce more. They have limited choice and spec and are having s great time, we need china to come into the space and make it competitive.
That’s what I was saying too. The market has vanished because there is no supply