TL/DR –
So, Europe’s carmakers are pulling up at the Paris Motor Show dropping a lineup of affordable EVs and snatching back the spotlight from Chinese brands. Gone are the days of drooling over Teslas we can’t afford; Renault and Stellantis are bringing the heat with models under 20k euros, perfect for the masses and our pockets. With emissions targets looming, these car giants are finally serving what we’ve been craving: electric rides that don’t break the bank.
PARIS, France — Europe’s top carmakers are revealing low-cost EVs at the Paris Motor Show, reclaiming market share lost to Chinese brands.
The biennial event, running through Sunday, might be pivotal for Europe’s auto industry revival.
“Europe is fighting back,” said Julia Poliscanova from Transport & Environment. She noted many affordable models from Citroen, Peugeot, and Renault.
“This is crucial for the mass market, especially with Chinese competition,” Poliscanova added.
Car giants face a perfect storm on the journey to electrification: lack of affordable models, limited charging infrastructure, and a trade war with China.
With upcoming emissions targets, automakers emphasize affordable models at the show.
Renault unveiled the Twingo E-Tech prototype, priced under 20,000 euros. Orders for the electric R5 are already coming in, alongside Dacia’s budget Spring model.
Stellantis introduced the compact Citroen C4 and C4 X, aiming to meet energy transition challenges.
“The narrative that demand for EVs is low isn’t true,” Poliscanova said, indicating that affordable models next year will boost sales.
Poliscanova suggests low-cost EVs could snag 24% of the market next year, up from 14%. Meanwhile, JATO reports Chinese EVs cost less than half of Western ones, highlighting pricing challenges.
Dacia CEO Denis Le Vot emphasized affordable mobility, noting over 150,000 Spring models sold in Europe.
Pere Brugal of GM Europe sees Europe’s auto challenges as transitional, not a crisis.
More investment in public charging could boost EV adoption, though a solid network already exists, Brugal noted at the Show.
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Original Story at www.cnbc.com
