Delivering affordable electric vehicles (EVs) has become a priority for car makers worldwide as the shift to cleaner driving has come with high prices, due largely to battery costs. In 2022, Chinese car makers had a 9% share of Europe's EV market, nearly double the previous year's figure, according to forecasts by consultancy Inovev. Tavares said Western car makers needed to use "the same weapons" as their Chinese rivals, sourcing parts in lower cost countries and striking partnerships with battery suppliers that offer the best combination of energy, cost and weight. Once-dominant Western automakers are also striving to regain ground in China itself, the world's largest car market, after losing share to local manufacturers. Mercedes-Benz (MBGn.DE) said on Thursday it was sticking to its strategy and would not engage in a price war to "buy" market share in China.

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Persons: France's, Thierry Pieton, Luca de Meo, Tesla, Carlos Tavares, Tavares, Mercedes, Ola Kaellenius, Kaellenius, Victoria Waldersee, Silvia Aloisi, Mark Potter Organizations: Western, France's Renault, Finance, Renault, SAIC, Inovev, Jato, Tesla, Peugeot, Fiat, Benz, Mercedes, Thomson Locations: Europe, U.S, Western, China, Berlin