Oct 25, 2022

Renault’s de Meo Doubtful on Price Parity for EVs and Combustion Vehicles

Luca de Meo does not see EV prices approaching those of combustion engine cars due to continually high battery prices.

PARIS — Renault Group CEO Luca de Meo does not see price parity between electric cars and combustion engine models coming anytime soon.

“I do not see this parity getting close,” he told reporters on the sideline of the Paris auto show.

De Meo said that eight years ago the industry was expecting the cost per kilowatt-hour of battery power to fall by $100 within five years, but prices are not there yet.

Renault was the first European automaker to offer a full-electric car with the Zoe, which launched in 2013.

The company plans to become an electric-only brand in Europe by 2030, five years before the EU’s expected ban of internal combustion engines that is planned for 2035.

“I am taking the company there, but ultimately it will be the market, the customers, who will decide if they want to be electric-only,” de Meo said. …

Source: Automotive News Europe

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