MUNICH -Europe's carmakers have a fight on their hands to produce lower-cost electric vehicles (EVs) and erase China's lead in developing cheaper, more consumer-friendly models, executives said at Munich's IAA mobility show. "We have to close the gap on costs with some Chinese players that started on EVs a generation earlier," Renault CEO Luca de Meo told Reuters at the car show, adding when manufacturing costs decline, prices will also go down. De Meo said as part of the French carmaker's drive toward price parity with the Chinese, its R5 EV due out next year will be 25 percent to 30 percent cheaper than its electric Scenic and Megane models. Chinese EV makers, including BY...
Keep on reading: Europe’s carmakers fret over China’s EV prowess at Munich car show
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Keep on reading: Europe’s carmakers fret over China’s EV prowess at Munich car show
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