Renault, Stellantis see EV sales bouncing back on low prices
Automakers are showing off a range of affordable electric models in Paris this week as they try to compete with Chinese manufacturers
DEMAND for electric vehicles is showing signs of recovering as prices for plug-in models are coming down, according to Stellantis and Renault.
“We may be getting close to a tipping point” for EV demand, Thierry Koskas, who heads Stellantis’ Citroën brand, told reporters at the Paris auto show on Monday (Oct 14). Renault chief executive officer Luca de Meo cited an event this weekend where EVs made up 35 per cent to 40 per cent of sales.
Automakers are showing off a range of affordable electric models in Paris this week as they try to compete with Chinese manufacturers expanding in the region. Stellantis, Volkswagen and Renault are also contending with an EV demand slowdown sparked by subsidy cuts that pushed up the cost of owning a plug-in car.
Citroën is presenting EVs including the 23,300 euro (S$33,257) ë-C3 city car, which started shipping months behind schedule in mid-September due to software issues. A 19,999 euro version will be launched in the first half of next year, Koskas said.
Renault unwrapped the R4 E-Tech in Paris, a compact electric model expected to cost less than 35,000 euros, with a driving range of 400 kilometres. It’s also selling the smaller R5 that starts at around 25,000 euros.
“When you have the product, maybe you can change” the conversations around EVs, de Meo said Monday in an interview with Bloomberg Television. At an “open door” event in France this weekend, Renault’s EV sales were at 35 per cent to 40 per cent of the total product mix, the CEO said, without giving more details.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
De Meo also commented on the competition with China, saying the Asian nation and the West need to find new ways of competing and working together. Manufacturers led by BYD are expanding in Europe despite Brussels’ decision this month to boost tariffs on their EVs as high as 45 per cent.
“Without a good cooperation with the Chinese, I think it will be more difficult to ramp up electrification in Europe,” de Meo told Bloomberg TV, citing their strong role in providing raw materials and batteries.
One such partnership is already operational. Stellantis has teamed up with Leapmotor to bring down the cost of owning an electric car, with several of the Chinese brand’s vehicles on display in Paris. They include the Leapmotor B10, a compact SUV aimed at younger drivers that’s expected to cost less than 30,000 euros.
“We control all of their exports outside of China,” Stellantis CEO Carlos Tavares said about Leapmotor in an interview with Bloomberg Television.
The Peugeot maker can benefit from Leapmotor’s engineering speed and its affordable technology, Tavares said, adding that Stellantis can help the Chinese company sidestep European tariffs with its production network in the region.
“This is a competitive edge of Stellantis,” the CEO said. BLOOMBERG
Share with us your feedback on BT's products and services
