In China vs Europe EV battle, Renault leads latter's charge
economictimes.indiatimes.comRenault and China-owned MG launched new electrified cars in Europe at the Geneva car show on Monday as Chinese automakers seek to take more market share from European rivals.
Europe's auto industry is scrambling to cut costs and roll out more affordable, well-reviewed electric vehicles (EVs) to counter the arrival of cheaper Chinese models.
The strong presence of Chinese competitors at the show, which returns this week after a four-year hiatus due to the Covid-19 pandemic, shows «they are interested in our market, in our customers,» Renault CEO Luca de Meo said..
Speaking to media later, after unveiling Renault's highly-anticipated new electric R5, he insisted Europe's auto industry was «up for the challenge».
In a sign of weakening interest from legacy automakers for most car shows, there were fewer exhibitors than before Covid-19, with stands in just one hall, rather than in several at the last show in 2019. US EV pioneer Tesla does not have a stand. The R5 is central to Renault's efforts to build affordable EVs. Rival Stellantis will roll out its electric Citroen e-C3 this year, which starts at ?23,300.
Also on Monday, SAIC's MG brand announced the European launch of its MG3 hybrid, which is already sold in Britain.
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