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Story: Renault aims to lead Europe’s fightback against cheap Chinese EVs.
At the Geneva Auto Show on Monday, the French company unveiled a new model intended to be one of the most affordable electric cars.
The Renault 5 is reminiscent of the model of the same name that was launched in the 1970s and was a huge hit.
The basic version will cost around 25,000 euros, or about $27,000.
This should help it compete with the influx of lower-cost Chinese EVs that are gaining market share.
But Renault’s head of design Laurens van den Acker says competing on price alone is not enough.
“So with the new Renault 5, we are trying to express the spirit of fun, joy, fun to drive, a 100% electric car, a truly technologically advanced car, a car that bridges the past and shows us the future. .”
Renault scored a victory over its Chinese rival as the Scenic EV won the prestigious Car of the Year title in Geneva.
With this, it defeated rival candidates such as the Seal sedan made by China’s major BYD.
Still, analysts say the fact that Chinese companies were involved in management shows how far they have come.
Automotive journalist Peter Segal says the price of EVs is a big issue.
“So the main issue regarding the affordability of electric cars is the European Union’s deadline of 2035, when car manufacturers will only be able to sell zero-emission cars. So essentially… For cars only, the cost of batteries is currently out of reach for many European buyers of EVs, especially in Eastern and Southern European countries, and we already know that EV penetration in those countries is very low. I am.”
On Monday, SAIC, backed by the Chinese government, launched a new European model for its fast-growing MG brand.
And competition with Chinese companies will only intensify.
Industry experts at Innovev expect the country’s automakers to sell 1 million cars in Europe this year.
Renault President Luca de Meo said cooperation could be one solution.
He said automakers could work together to emulate the success of European aerospace giant Airbus.
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