Tuesday 22 Oct
European car manufacturers are making a strategic move to reclaim market share from Chinese brands by introducing a range of affordable electric vehicles at the Paris Motor Show.
Julia Poliscanova, director of
vehicles and e-mobility at Transport & Environment, believes Europe is
finally responding to the need for more accessible electric vehicles. The
abundance of new models, especially those at lower price points, is a positive
sign.
Citroën, Peugeot, and Renault are
leading the charge with smaller, more affordable electric vehicles. This is a
crucial step in encouraging wider adoption of electric cars and competing with
Chinese offerings.
Carmakers are seizing the
opportunity to showcase their affordable electric vehicle offerings at the
Paris Motor Show. Renault, for example, has unveiled the Twingo E-Tech
prototype, promising a starting price of less than €20,000.
Other notable announcements
include Renault's R4 electric SUV, Dacia's Spring model, and Stellantis'
Citroen C4 and C4 X. These vehicles demonstrate the industry's commitment to
providing affordable electric options. Contrary
to previous beliefs, the demand for electric cars hasn't waned. The lack of
affordable models has hindered sales, but this is expected to change as more
accessible options become available.
The introduction of numerous
affordable electric vehicles is poised to significantly boost their market
share in Europe, potentially reaching 24% next year. This is a substantial
increase from the current 14%, Poliscanova said.
According to data firm JATO, the average retail price of a battery electric vehicle in China was around €31,000 in the first half of 2023. In comparison, the average retail price of a battery electric vehicle over the same period was more than €66,000 in Europe and €68,000 in the United States.
