{"id":12970,"date":"2024-10-14T09:20:47","date_gmt":"2024-10-14T09:20:47","guid":{"rendered":"https:\/\/topat10.com\/?p=12970"},"modified":"2024-10-14T09:20:47","modified_gmt":"2024-10-14T09:20:47","slug":"european-carmakers-descend-on-paris-to-showcase-low-cost-evs","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=12970","title":{"rendered":"European carmakers descend on Paris to showcase low-cost EVs"},"content":{"rendered":"\n<p>Europe\u2019s biggest automakers have long used the Paris auto show to trot out fresh designs and new technologies. This year, there\u2019s a different theme: price.<\/p>\n<div>\n<p>With drivers balking at the high cost of owning electric vehicles, Stellantis NV, Renault SA and Volkswagen AG plan to showcase their latest budget EVs at the biennial event that starts Monday. Their aim is to turn around a slump that started last year when governments began pulling back incentives to ditch combustion engines.<\/p>\n<p>The stakes are high for the new models to succeed. Chinese rivals led by BYD Co. are gaining market share in the region with cheaper models. And if the European carmakers fail to sell more EVs, they\u2019ll be on the hook for as much as\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-07\/renault-says-ev-slowdown-could-lead-to-billions-in-fines-in-eu\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2024-09-07\/renault-says-ev-slowdown-could-lead-to-billions-in-fines-in-eu\" rel=\"noreferrer noopener\">\u20ac15 billion in fines<\/a>\u00a0for failing to meet stricter fleet emissions-reduction targets.<\/p>\n<p>\u201cThe mood is not great around EVs right now \u2014 there\u2019s not enough charging infrastructure, there\u2019s volatility on price, but let\u2019s see,\u201d Renault Chief Executive Officer Luca de Meo said.<strong>\u00a0<\/strong>\u201cWe are really trying our best.\u201d<\/p>\n<p>Renault is at the forefront of the affordability push, unveiling plug-in models in Paris including the R4, which is expected to cost less than \u20ac35,000 ($38,269). It\u2019s also showing off the new R5, a \u20ac25,000 electric version of a 1970s gasoline car that offered fuel-efficient transport during a time of soaring oil prices.<\/p>\n<p>The show could mark a turning point for Europe\u2019s automakers, which have struggled to produce cheap EVs. Early problems developing software, high labor costs and persistently expensive components like batteries have plagued the industry.<\/p>\n<p>To keep margins up, many carmakers focused on selling premium models. That, together with the removal of subsidies in countries including Germany and Sweden, pushed the average EV price\u00a0<a href=\"https:\/\/www.spglobal.com\/en\/research-insights\/special-reports\/china-ahead-in-delivering-affordable-electric-mobility\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.spglobal.com\/en\/research-insights\/special-reports\/china-ahead-in-delivering-affordable-electric-mobility\" rel=\"noreferrer noopener\">above \u20ac45,000<\/a>\u00a0this year. That\u2019s put electric models out of reach for many Europeans, who are already trying to cope with higher borrowing and living costs.<\/p>\n<h2 class=\"wp-block-heading\">Chinese Competition<\/h2>\n<p>The European incumbents are going up against several Chinese manufacturers eager to expand in the region despite Brussels\u2019 decision this month to boost tariffs on their EVs as high as 45%.<\/p>\n<p>BYD is bringing EVs and plug-in hybrids to Paris including mass-market models competing with the French and German cars as well as Tesla Inc.\u2019s Model Y. In a bid to demonstrate its technology prowess, BYD also will be showcasing the Yangwang U8, a luxury SUV costing around 1 million yuan ($141,509).<\/p>\n<p>Guangzhou-based Xpeng Inc., which has a partnership with Volkswagen, will present its upcoming P7+ sedan, a longer-wheelbase version of the \u20ac50,000 P7 that competes with more expensive mid-size models from BMW and Mercedes.<\/p>\n<p>While manufacturers including Great Wall Motor Co. and Nio Inc. are absent from the show, a number of Chinese automakers have sent their staff to Paris to discuss potential partnerships, market entries and European production with local manufacturers and dealers.<\/p>\n<h2 class=\"wp-block-heading\">Stellantis<\/h2>\n<p>Stellantis is tapping China\u2019s Leapmotor to help bring down the cost of its electric cars. Models presented in Paris include the Leapmotor B10, a compact SUV aimed at younger drivers that\u2019s expected to undercut competing models on price. The reception at the show may determine\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-24\/leapmotor-to-start-urban-ev-production-in-poland-by-year-end\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2024-09-24\/leapmotor-to-start-urban-ev-production-in-poland-by-year-end\" rel=\"noreferrer noopener\">next steps<\/a>\u00a0for Stellantis\u2019 push to produce Leapmotor vehicles at a group plant in Poland.<\/p>\n<p>The company\u2019s Citro\u00ebn brand \u2014 which in 1948 helped bring affordable cars to France with the 2CV \u2014 plans to show moderately priced EVs in Paris including the New C3 Aircross, which it calls \u201cthe most affordable compact SUV\u201d on the market.<\/p>\n<p>It\u2019s also showcasing the \u20ac23,300 Citro\u00ebn \u00eb-C3 city car, which started shipping\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-01\/stellantis-foots-bill-for-citroen-subsidy-after-delivery-delays\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2024-10-01\/stellantis-foots-bill-for-citroen-subsidy-after-delivery-delays\" rel=\"noreferrer noopener\">months behind schedule<\/a>\u00a0in mid-September due to software issues. A version costing \u20ac19,999 will be launched in the first half of next year, brand CEO Thierry Koskas said Monday.<\/p>\n<p>\u201cWe may be getting close to a tipping point,\u201d for EV demand as prices are coming down, he told reporters at the show.\u00a0<\/p>\n<p>The models are essential for Stellantis, which is going through a rough patch. Pressure on CEO Carlos Tavares is rising after a disastrous profit warning last month and consistently\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-27\/stellantis-ceo-struggles-to-sell-jeeps-in-the-golden-era-of-suvs\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2024-07-27\/stellantis-ceo-struggles-to-sell-jeeps-in-the-golden-era-of-suvs\" rel=\"noreferrer noopener\">poor performance<\/a>\u00a0in the US, the company\u2019s biggest single profit pool. Tavares will attend several events in Paris after he jettisoned his finance chief Thursday as part of a sweeping management overhaul.<\/p>\n<h2 class=\"wp-block-heading\">VW\u00a0<\/h2>\n<p>Volkswagen, whose EV push has suffered from software stumbles and\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-16\/vw-weighs-cutting-15-000-staff-on-plant-closures-jefferies-says\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2024-09-16\/vw-weighs-cutting-15-000-staff-on-plant-closures-jefferies-says\" rel=\"noreferrer noopener\">high costs<\/a>\u00a0in its home market Germany, won\u2019t debut any electric cars in Paris. Instead, it\u2019s showing off newish models including the\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-01\/vw-budget-brand-unveils-33-000-electric-suv-in-answer-to-byd\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2024-10-01\/vw-budget-brand-unveils-33-000-electric-suv-in-answer-to-byd\" rel=\"noreferrer noopener\">Elroq<\/a>, a plug-in SUV its budget brand Skoda unwrapped earlier this month at a price of around \u20ac33,000 \u2014 roughly the same as its combustion-engine counterpart. VW will also present an ID GTI concept car, an all-electric take on its successful Golf GTI model.<\/p>\n<p>The true test of Volkswagen\u2019s ability to make a battery-powered \u201cpeople\u2019s car\u201d may be the ID.2all. The launch of the \u20ac25,000 EV isn\u2019t expected until the end of next year.<\/p>\n<h2 class=\"wp-block-heading\">BMW\u00a0<\/h2>\n<p>Even luxury-car maker BMW AG is bringing its budget offering to Paris, showcasing several Chinese-made Mini models alongside pricier performance-oriented versions including the John Cooper Works Electric and a larger, 5-door Aceman version.<\/p>\n<p>Jochen Goller, BMW\u2019s management board member for sales, said Monday that the cars are meant to appeal to younger drivers looking to switch to battery-electric models.<\/p>\n<p>The German company will also display an electric concept for its next-generation entry-level SUV, the Vision Neue Klasse X. BMW promises 30% faster charging and up to 800 kilometers (497 miles) of range on a single charge.<\/p>\n<h2 class=\"wp-block-heading\">Renault<\/h2>\n<p>Renault\u2019s Dacia budget brand will premiere the Bigster, a larger SUV aimed at countering \u201cspiraling costs\u201d in the segment, the company said.\u00a0<\/p>\n<p>Aside from the R4 and the R5 \u2014 de Meo called the latter \u201cthe best little EV in the world\u201d \u2014 Renault is unwrapping a\u00a0<a href=\"https:\/\/media.renault.com\/renault-twingo-e-tech-electric-prototype-the-emblematic-twingo-rebooted\/?lang=eng\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/media.renault.com\/renault-twingo-e-tech-electric-prototype-the-emblematic-twingo-rebooted\/?lang=eng\" rel=\"noreferrer noopener\">prototype<\/a>\u00a0for an electric Twingo that\u2019s supposed to cost less than \u20ac20,000 when it hits the market in 2026.<\/p>\n<p>\u201cWe are finally to starting to see smaller vehicles and more affordable EVs,\u201d said Serge Gachot, director of the Paris show. \u201cThere is still a gap with Chinese EVs in terms of costs, but that gap is narrowing.\u201d<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Europe\u2019s biggest automakers have long used the Paris auto show to trot out fresh designs and new technologies. This year, there\u2019s a different theme: price. With drivers balking at the high cost of owning electric vehicles, Stellantis NV, Renault SA and Volkswagen AG plan to showcase their latest budget EVs at the biennial event that [&hellip;]<\/p>\n","protected":false},"author":630,"featured_media":12971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[123],"tags":[],"class_list":["post-12970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>European 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