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.

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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    • @RidcullyTheBrown@lemmy.worldEnglish
      3•1 year ago

      The sh market in my area was made completely crazy by the supply chain issues over the past few years. When I looked into it at the end of 2022, ah cars of 3-4 years were more expensive than the new ones. I could afford to wait 10 months for a new car so that’s what I went with, but had I needed a car quickly, I’d have had to part with serious cash.