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Oct 20 (Reuters) - New car sales in the European Union rose 9.2% in September, helped by a jump in sales of electric and hybrid vehicles, which together accounted for more than half of car sales last month, industry data showed on Friday. Together, fully-electric cars, plug-in hybrids and full hybrids accounted for just over 50% of sales, the data showed. As recently as 2015, diesel vehicles comprised more than 50% of new car sales in the EU. Car sales in Europe have been steadily recovering from pandemic-related supply chain problems, most notably a global shortage of semiconductor chips. Despite 14 straight months of growth, car sales for the first nine months of 2023 remain 20% below the same period in 2019 before the pandemic.

Persons: Miranda Murray, Matthias Williams, Susan Fenton Organizations: Union, European Automobile Manufacturers Association, Diesel, Volkswagen, Renault, European Free Trade Association, Thomson Locations: Europe, EU, Britain

☆ European shares drop as dismal earnings add to risk-off mood
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Staff Acquire Licensing RightsOct 19 (Reuters) - European shares tumbled nearly 1% on Thursday as a raft of dismal corporate earnings including from packaged food giant Nestle worsened an already risk-averse mood, driven by jitters around the Middle East war and uncertainty over interest rates. The pan-European STOXX 600 (.STOXX) was down 0.8% by 0705 GMT, hitting an over one-week low. Shares of Nestle (NESN.S) dropped nearly 2% after the Swiss consumer giant posted lower-than-expected nine-month sales growth on Thursday as higher product prices made shoppers balk. French carmaker Renault (RENA.PA) shed 4.6% as the pace of sales growth slowed due to currency depreciations. Nokia (NOKIA.HE) lost 1.8% as the Finnish telecom gear group announced plans to slash jobs after posting a drop in its third-quarter sales.

Persons: jitters, Jerome Powell, French carmaker, Amruta Khandekar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, Nestle, U.S, Treasury, Federal, French carmaker Renault, Nokia, Netflix, Thomson Locations: Frankfurt, Germany, Israel, Swiss, French, Tesla

☆ Renault sales up 7.6% thanks to higher prices but forex weighs
▼ + stars: | 2023-10-19 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

A logo of Renault is seen on a car during the French carmaker Renault's 2022 annual results presentation in Boulogne-Billancourt, near Paris, Feburary 16, 2023. Revenues came in at 10.51 billion euros ($11.07 billion), a touch above an analyst consensus forecast of 10.46 billion euros distributed by the company. Like other European carmakers it is facing strong competition in the EV market from Tesla (TSLA.O) and cheaper Chinese models. Renault confirmed its targets for 2023, adding it now expected a group operating margin closer to 8% for the year from a previous 7-8% forecast. ($1 = 0.9497 euros)Reporting by Gilles Guillaume, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

Persons: Christian Hartmann, carmaker, Ampere, Gilles Guillaume, Silvia Aloisi Organizations: Renault, REUTERS, Companies Renault SA, Tesla, carmaker Renault, Turkish, Thomson Locations: Boulogne, Billancourt, Paris, Turkey, Argentina

☆ Campaigners say Europe's car leasing giants lag shift into electric gear
▼ + stars: | 2023-10-18 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

But by examining car registration data T&E said that, with the exception of ALD, the leasing companies' claims are false. "Our investigation clearly shows that all leasing companies... are making green leadership claims that are not backed up by evidence," the report says. "In other words, leasing companies are greenwashing." Across the EU as a whole, T&E found EVs made up just over 10% of leasing companies' car purchases, the same share as for the rest of the market. "What remains unclear is whether the major leasing companies will take these steps or remain rooted in the fossil age."

Persons: ZE, Eric Gaillard, Arval, EVs, Nick Carey, Barbara Lewis Organizations: Renault, REUTERS, Transport & Environment, Wednesday, Societe Generale, ALD, BNP, Ford, Nissan, Credit, Financial Services, Thomson Locations: Cagnes, Mer, France

It's been nearly 30 years but Rena Sofer still remembers her line from a classic scene on ABC's “General Hospital” in 1994 when her character jumped out of a cake to surprise her husband and his other wife. Sofer and Kurth were married for a short time after meeting on “General Hospital." All it took to slip into the character was to pick out Lois' signature nails: “I put the nails on, I was done. Executive producer Frank Valentini brought in a nail artist to work with Sofer to create nail designs to match Lois' outfits. And then you put on the outfit with the matching nails and it was like, ‘Oh my God, here she is,’" Sofer said.

Persons: It's, Rena Sofer, ABC's, “, Ned Ashton, ’, Sofer, Lois Cerullo —, ” Sofer, Lois, ‘ Lois, ’ I’m, ”, Wally Kurth, Ned, Kurth, I’m, Wally, Rosabel, —, Frank Valentini Organizations: ”, “ General Locations: East Coast, ’, Los Angeles

☆ Renault, Volvo, CMA CGM pool forces to develop electric vans
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gonzalo Fuentes//File Photo Acquire Licensing RightsPARIS, Oct 6 (Reuters) - Carmakers Renault (RENA.PA) and Volvo and shipping group CMA CGM said on Friday they will jointly develop a new generation of electric vans, aiming to begin production in 2026. Renault and Volvo signed binding agreements to launch a new company where they will initially each hold a 50% equity stake and invest 300 million euros over the next three years, they said in a statement. CMA CGM signed a non-binding letter of intent with Renault and Volvo to join the new company and invest 120 million euros through PULSE, its Energy Fund dedicated to accelerating the decarbonization of transport and logistics sectors. There was no further detail on when this might happen or what stake it may take in the venture. The creation of the new company is expected early 2024 and remains subject to the completion of all regulatory approval processes.

Persons: Gonzalo Fuentes, Carmakers, Dominique Vidalon, Elaine Hardcastle Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Carmakers Renault, Volvo, CMA, CMA CGM, Energy Fund, Thomson Locations: Porte, Paris, France

☆ Renault sets Nov. 15 date for first investor day for EV unit Ampere
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: 1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes//File Photo Acquire Licensing RightsCompanies Renault SA FollowPARIS, Oct 5 (Reuters) - Renault (RENA.PA) on Thursday announced the first investor day for its future electric vehicle company, named Ampere, will take place on November 15. Renault's Chief Executive Luca De Meo last month said the unit, which Renault plans to list on the stock exchange as a standalone business by spring 2024, could be valued at up to 10 billion euros ($10.47 billion). ($1 = 0.9550 euros)Reporting by Gilles Guillaume, writing by Tassilo Hummel, editing by Geert De ClercqOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca De Meo, Gilles Guillaume, Tassilo Hummel, Geert De Clercq Organizations: Renault, Viva Technology, Porte de, REUTERS, Companies Renault SA, PARIS, Thursday, Renault's, Thomson Locations: Porte, Paris, France

☆ Renault ends common purchasing agreement with Nissan and Mitsubishi
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Le Coteau, France, July 13, 2023. Renault and Nissan finalised at the end of July the terms of a restructured alliance after months of negotiations. Talks dragged on months longer than expected due in part to Nissan, which was concerned about protecting its intellectual property in future collaborations. The July agreement freed both companies to focus on the more pressing problem of navigating the fast-changing industry landscape. Reporting by Dominique Vidalon;additional reporting by Gilles Guillaume Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, carmaker, Dominique Vidalon, Gilles Guillaume, Sudip Kar, Gupta, Mark Potter Organizations: Renault, Nissan, REUTERS, Rights, carmaker Renault, Mitsubishi, Thomson Locations: Le Coteau, France, China

☆ Nissan says all new models coming to Europe will be fully electric
▼ + stars: | 2023-09-25 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsLONDON, Sept 25 (Reuters) - Nissan Motor Co (7201.T) said on Monday that as of now all new models it launches in Europe will be fully electric and it plans to sell only electric vehicles on the continent by 2030. The Japanese carmaker said that one of two new EV models it has already confirmed for Europe will be manufactured at its Sunderland plant in northern England. Earlier this year, Nissan raised its targets for EV models as it plays catch up in a segment dominated by newcomers like Tesla (TSLA.O) - saying it would launch 19 new EV models by 2030. The new goal of going fully electric in Europe by 2030 brings Nissan in line with alliance partner Renault (RENA.PA), which plans to make the Renault brand all electric by then. Ford and Stellantis also plan to be fully electric in Europe by 2030.

Persons: Issei Kato, Makoto Uchida, Ford, Stellantis, Nick Carey, Kirsten Donovan Organizations: Nissan Motor Corp, Nissan, REUTERS, Sunderland, Renault, Volvo, Thomson Locations: Yokohama, Tokyo, Japan, Europe, England

☆ EU car group calls for urgent action on post-Brexit trade rules
▼ + stars: | 2023-09-24 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Puzzle with printed EU and UK flags is seen in this illustration taken November 13, 2019. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 25 (Reuters) - The European Union and Britain need to take urgent action to postpone rules for electric vehicles traded between the bloc and the UK that will trigger 10% tariffs, Europe's car industry group said on Monday. Under the EU-UK post-Brexit trade deal, EVs need to have 45% EU or UK content from 2024, with a 50%-60% requirement for their battery cells and packs, or face British or EU import tariffs of 10%. The ACEA has said the rules could cost carmakers up to 4.3 billion euros ($4.57 billion) in tariffs and hit output. In June, Stefan Fuehring, a European Commission official overseeing the post-Brexit EU-UK trade agreement, said the EU rules of origin were "fit for purpose" and that the bloc was not considering changing them.

Persons: Dado Ruvic, Luca de Meo, Stefan Fuehring, Nick Carey, Barbara Lewis Organizations: REUTERS, European Union, Automobile Manufacturers ' Association, Renault, EU, Ford, European Commission, Thomson Locations: Britain, British, EU

☆ Renault to maintain mixed ethanol combustion engines in Brazil
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "It still pays to invest in combustion in Brazil," top executive Ricardo Gondo said at an event, adding that the industry will need more federal incentives to accelerate its EV transition. Renault is planning to launch Brazilian sales of an electric version of its French-made Kangoo van in October, when it will also launch its Kardian combustion engine SUV, set to be manufactured locally. Earlier this month, Renault CEO Luca de Meo warned a "very competitive" industry in China and that it will need to "catch up fast". ($1 = 4.9256 reais)Reporting by Alberto Alerigi Jr.; Writing by Carolina Pulice; Editing by Sarah Morland and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ricardo Gondo, Gondo, van, JAC, Luca de Meo, Luiz Inacio Lula da Silva, Jair Bolsonaro, Alberto Alerigi Jr, Carolina Pulice, Sarah Morland, Marguerita Choy Organizations: Renault, Viva Technology, Porte de, REUTERS, SAO PAULO, EV, Wall Motor Co, Chery, Qualcomm, Nissan, Brazilian, Thomson Locations: Porte, Paris, France, Brazil, French, Parana, China

☆ More than a fifth of cars sold in EU in August were full EVs - ACEA
▼ + stars: | 2023-09-20 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

Fully-electric models made up 21% of sales in the EU in August, the first time that they have made up more than one fifth of all sales, the ACEA said. In the first eight months of 2023, nearly 1 million fully-electric cars were sold in the EU. Overall, EU car sales were up 21% in August, which is typically a slower month for car sales, making it the thirteenth consecutive month of sales growth as the auto industry recovers from pandemic-related supply chain issues. Fully-electric car sales more than doubled to 165,165 units for the month from August 2022. Diesel vehicles comprised more than 50% of new car sales as recently as 2015.

Persons: Fabrizio Bensch, Nick Carey, Sharon Singleton Organizations: Factory, Volkswagen, REUTERS, European Union, European Automobile Manufacturers Association, EU, Diesel, Renault, Thomson Locations: Dresden, Germany

☆ Explainer: How France aims to discourage buying of Chinese EVs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

WHY IS FRANCE REVISING ITS EV BONUS ELIGIBILITY RULES? However, in the absence of cheap European-made EVs, a third of all incentives are going to consumers buying EVs made in China, a French finance ministry source said. Because Chinese industry generally relies heavily on coal-generated electricity, the criteria are likely to put the bonus out of Chinese carmakers' reach. But French car buyers will have to wait because Stellantis' (STLAM.MI) Slovakia-made e-C3 city car and Renault's (RENA.PA) France-made R5 are not due to hit the market until 2024. The model is currently one of the best-selling electric car's in France with the Tesla Y, Peugeot's e-208, Fiat's 500e, the Megane eTech and MG4.

Persons: Angelika Warmuth, EVs, Emmanuel Macron, Stellantis, MG4, Lorraine Morard, Luca De Meo, Tesla, BYD, Gilles Guillaume, Leigh Thomas, Sharon Singleton Organizations: Company, REUTERS, Rights, Reuters, SAIC, P Global, Renault, Thomson Locations: Munich, Germany, France, China, Europe, FRANCE, French, Slovakia, Dacia Spring

Here are the big questions about the move, which led to a slide in shares of Chinese EV makers on Thursday:WHY EXPORT TO EUROPE AND HOW MUCH HAS IT GROWN? That is mainly due to Beijing's decade-old industry promotion policy of incentives and subsidies that enabled China to become the world's biggest EV market and control the global EV supply chain, including raw materials. The single largest exporter is Tesla, accounting for 40% of China's EV exports between January and April, U.S. thinktank the Center for Strategic and International Studies says. Chinese state subsidies for electric and hybrid vehicles totalled $57 billion between 2016 and 2022, consultants AlixPartners have estimated. It paid out nearly $15 billion to encourage EV purchases through 2021, China Merchants Bank International has estimated.

Persons: Annegret, Bill Russo, EVs, BYD, AlixPartners, Brenda Goh, Ellen Zhang, Miyoung Kim, Clarence Fernandez Organizations: REUTERS, Rights, European Commission, EV, EU, Volkswagen, Renault, BMW, WHO, Center for Strategic, International Studies, Volvo, SAIC's, MG, HK, China Merchants Bank International, Thomson Locations: Berlin, Germany, China, Shanghai, Europe, United States, CHINA, Netherlands, Denmark

The United States also offers tax credits of up to $7,500 for buyers of new electric cars, and several more for manufacturers of EVs and EV components. And each government views the support they provide as merely also doing "whatever it takes" to keep their own industries competitive. The mere threat of a probe into China's subsidies might actually be enough to slow the pace of imports from China while allowing sales of European cars to pick up further. Shares of major European car producers have heavily lagged U.S. and China EV rivalsIn that way, the EU Commissioner will have provided a valuable service to Europe's manufacturers without needing to actually dig too deeply into China's subsidy practices. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ursula von der Leyen, von der Leyen, Gavin Maguire, Josie Kao Organizations: EU Commission, European EV, European Union, EV, United, Volkswagen, BMW, Renault, China EV, Reuters, Thomson Locations: LITTLETON , Colorado, Europe, Beijing, European, United States, Germany, China, EU

☆ German carmaker stocks dip amid China-EV probe dispute
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Alternatively, punitive tariffs on imports from China could accelerate Chinese EV makers' plans to build in Europe, analysts said, raising competition for domestic carmakers. "Volkswagen could gain from lower mass-market competition, but is the most exposed ... premium OEMs ...face the risk of retaliation and might see their China-export plans sent awry," he added. By 1210 GMT, the STOXX Europe 600 Auto (.SXAP) index was down 1.46%, while the broader market was steady. BMW, which exports the iX3 from China and plans to export the Mini from 2024, fell 2.08%, with Mercedes-Benz down 1.56% and Volkswagen down 1.83%. Stocks of carmakers Renault and Stellantis, which are less exposed to the Chinese market than their German counterparts, saw smaller dips of 1.33% and 0.81% respectively.

Persons: Annegret, Emmanuel Macron, Daniel Roeska, Bernstein, Danilo Masoni, Victoria Waldersee, Josephine Mason, Thomas Leigh, Michel Rose, Sharon Singleton, David Holmes Organizations: REUTERS, EV, HK, European Commission, Renault, Volkswagen, BMW, Mercedes, Benz, Porsche, carmakers Renault, Thomson Locations: Berlin, Germany, Beijing, China, Europe, France

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

REUTERS/Julia Nikhinson/File Photo Acquire Licensing RightsWASHINGTON, Sept 13 (Reuters) - U.S. Senate Majority Leader Chuck Schumer on Wednesday said that while regulations on artificial intelligence were certainly needed, they should not be made "too fast." U.S. lawmakers want safeguards against potentially dangerous deepfakes such as bogus videos, election interference and attacks on critical infrastructure. KEY QUOTE"If you go too fast, you can ruin things," Schumer told reporters after organizing a closed-door AI forum bringing together U.S. lawmakers and tech CEOs. * Schumer told reporters there was consensus in the Wednesday meeting on the need for AI regulation. Reporting by Kanishka Singh in Washington; editing by Jonathan Oatis and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Chuck Schumer, Julia Nikhinson, Schumer, Elon Musk, Mark Zuckerberg, Sundar Pichai, Kanishka Singh, Jonathan Oatis, Josie Kao Organizations: Intelligence, U.S, Capitol, REUTERS, Rights, European Union, Renault, Thomson Locations: Washington , U.S, ChatGPT ., Meta, Washington

☆ China is bitter medicine for Europe’s EV pivot
▼ + stars: | 2023-09-12 | by ( Neil Unmack | ) www.reuters.com time to read: +7 min

LONDON, Sept 12 (Reuters Breakingviews) - China can offer a bitter medicine for Europe’s bold electric vehicle pivot. That has prompted carmakers to develop premium e-cars for richer punters, rather than mass market vehicles. More competition from Chinese carmakers should help bring down prices of electric vehicles in Europe. It will force Western players to keep cutting costs to avoid losing too much market share, boosting overall e-car adoption. Sales of EVs picked up in August, with Jefferies analysts estimating a total market share across Europe of 23%.

Persons: Oliver Zipse, Olaf Scholz, carmakers, Morgan Stanley, Encouragingly, BYD, ”, EVs, Lisa Jucca, Oliver Taslic, Thomas Shum Organizations: Reuters, Volkswagen, European Automobile Manufacturers ’ Association, HK, Norway, BMW, Reuters Graphics, Jato Dynamics, Benchmark Mineral Intelligence, BYD, Renault, UBS reckons, Financial, Electric, European Union, Jefferies, Thomson Locations: China, Europe, Italy, Europe’s, Germany, Norway, Latvia, Bulgaria, Britain, Polo . China, Western, EU

☆ First funding tranche for Verkor battery gigafactory near complete- co-founder
▼ + stars: | 2023-09-06 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

PARIS, Sept 6 (Reuters) - Verkor should complete the first tranche of fundraising for its future battery gigafactory in Dunkirk, France, in the coming weeks, co-founder and chief customer officer Philippe Chain told Reuters. The Grenoble-based startup's gigafactory is one of four electric vehicle battery factories planned in northern France. Verkor has already raised around 350 million euros, mainly for a new innovation centre, a pilot production line already in operation and a "battery school" to train future employees. Construction of the gigafactory has begun and it will have an initial annual production capacity of 16 gigawatt hours (GWh) - including 12 for Renault (RENA.PA), which owns more than 20% of Verkor. Taiwan's ProLogium also plans a gigafactory in Dunkirk with a capacity of 30 GWh in 2030.

Persons: Philippe Chain, Verkor, Taiwan's ProLogium, Nick Carey, Gilles Guillaume, David Evans Organizations: European Union, Renault, Automotive Cells Company, ACC, Mercedes, TotalEnergies, Thomson Locations: Dunkirk, France, Munich, Grenoble

[1/6] A view shows model TO3 of Leapmotor, a Chinese automobile manufacturer, displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they could dominate EV sales. Xpeng President Brian Gu said while European carmakers currently lag behind China, they have made a "huge commitment" to EVs with partnerships and large investments in technology. "I would never discount the large (carmakers) trying really hard to come back and focus on this important transition," Gu said.

Persons: Leonhard Simon, Luca de Meo, De Meo, Hildegard Mueller, Oliver Zipse, Oliver Blume, Brian Gu, Gu, Ferdinand Dudenhoeffer, Dudenhoeffer, Nick Carey, Victoria Waldersee, Gilles Gillaume Christina Amann, Zoey Zhang, Jan Schwartz, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: REUTERS, China EV, Renault, Reuters, HK, Europe's EV, Zhejiang Leapmotor Technology, EV, German Association of, Automotive Industry, Jato Dynamics, BMW, Benz, Klasse, Volkswagen, Auto, Thomson Locations: Munich, Germany, China, MUNICH, BYD, Zhejiang, Europe, Asia

A Renault wallbox charging station is used by a Renault Captur hybrid car at a dealership in Les Sorinieres, near Nantes, France, October 23, 2020. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they will undercut local carmakers and dominate EV sales. Mercedes-Benz (MBGn.DE) will present its CLA compact class and BMW (BMWG.DE) its Neue Klasse, both of which target higher range and efficiency, while halving production costs. Volkswagen (VOWG_p.DE) CEO Oliver Blume told reporters that through its partnerships in China, the carmaker aims to cut battery cell costs by 50%.

Persons: Stephane Mahe, Luca de Meo, De Meo, Fabian Brandt, Oliver Wyman, Gilles Le Borgne, Oliver Blume, " Blume, Nick Carey, Victoria Waldersee, Gilles Gillaume, Christina Amann, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: Renault, REUTERS, China EV, Reuters, HK, Europe's EV, EV, Jato Dynamics, Benz, BMW, Klasse, Volkswagen, Greenpeace, Protesters, Thomson Locations: Les Sorinieres, Nantes, France, China, MUNICH, BYD, Europe, Munich, Asia

☆ Munich car show shines spotlight on China competition in EV race
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

A Renault wallbox charging station is used by a Renault Captur hybrid car at a dealership in Les Sorinieres, near Nantes, France, October 23, 2020. About 41% of exhibitors at this year's event are headquartered in Asia, with the number of Chinese companies having more than doubled, including players across batteries and EV production such as BYD, CATL and XPeng. "Europe needs to stop being naive from a macroeconomic point of view in the face of China," Gilles Le Borgne, Renault's (RENA.PA) engineering head, told journalists on Sunday, pointing to the country's control of the full battery supply chain. Chinese and German players, including top German carmakers and suppliers and China's LeapMotors and Horizon Robotics, will also speak at a Chinese EV conference set for Wednesday and Thursday for the first time outside China as part of the IAA. ($1=0.9273 euros)Reporting by Victoria Waldersee, Gilles Gillaume and Christina Amann; Editing by Friederike Heine and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephane Mahe, Gilles Le Borgne, Fabian Brandt, Oliver Wyman, Victoria Waldersee, Gilles Gillaume, Christina Amann, Friederike Heine, Clarence Fernandez Organizations: Renault, REUTERS, Rights, Horizon Robotics, EV, IAA, Mercedes, Benz, BMW, Klasse, Volkswagen, Thomson Locations: Les Sorinieres, Nantes, France, Asia, Europe, China

☆ Renault CEO: China very competitive on electric vehicles, Europe needs to catch up
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

The Renault logo on the Renault Scenic Vision concept-car is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsPARIS, Sept 4 (Reuters) - Renault's (RENA.PA) chief executive Luca de Meo said on Monday that China was 'very competitive' in terms of the electric vehicle market, as Renault also prepared to unveil its new Scenic electric vehicle car model. "China is very competitive when it comes to the supply chain of electric vehicles....we need to catch up fast," De Meo told RTL Radio, speaking from the IAA Munich car show. De Meo added that Renault would unveil the prices for its new Scenic minivan later in the year, with a launch planned in the first quarter of 2024. The Scenic will be within the price range for many customers, similar to a hybrid model of the same size and category, he said.

Persons: Porte, Benoit Tessier, Luca de Meo, De Meo, Tassilo Hummel, Sudip Kar Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, RTL Radio, IAA, Gupta, Thomson Locations: Paris, France, China, IAA Munich

☆ Renault cannot afford discount race with Tesla, Chinese peers, executive says
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: 1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsMUNICH, Sept 3 (Reuters) - Renault (RENA.PA) cannot afford to enter a discount race with Tesla (TSLA.O) or Chinese rivals, the French carmaker's head of engineering told journalists at the IAA Munich car show. "The good strategy is to maintain prices and to adjust fixed costs," Gilles Le Borgne said. Renault's high exposure to Europe makes it one of the most exposed names to new competition from Tesla and Chinese rivals in electric vehicles, UBS wrote in a note this week. Reporting by Gilles Guillaume; Writing by Christoph Steitz; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Gilles Le Borgne, Gilles Guillaume, Christoph Steitz, Paul Simao Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, IAA, UBS, Thomson Locations: Porte, Paris, France, French, IAA Munich, Europe

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