this post was submitted on 05 Sep 2023
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97
Europe's carmakers fret over China's EV prowess at Munich car show (www.reuters.com)
submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]
26 comments fedilink hide all child comments
 

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

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[โ€“] [email protected] 6 points 1 year ago (1 children)

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.

[โ€“] [email protected] 7 points 1 year ago

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.