Luca de Meo is betting on the electric car in Europe, but…

The Italian manager Luca de Meo is committed to the electric car in Europe and believes that the old continent will win the battle for this type of vehicle, as stated in an interview with the French weekly Le Journal du Dimanche and taken up by Agencia EFE. Of course, he also warned against the problem of the high price of the electric car and that it is due to the fact that “40% comes from the drumssince “of this percentage, 80% depends on the raw materials”.

Remember that so far most of the batteries come from Asia, mainly from China, although there are already projects to manufacture them in the old continent and even in Spain (in the Valencian Community and Extremadura) . Moreover, after the Covid-19 crisis and with the Russian invasion of Ukraine and the start of the war there, the price of raw materials and costs have skyrocketed, and disruptions continue to occur. in supply chains.

Luca de Meo’s electric car price warning comes nearly two months after José Vicente de los Mozos, global head of manufacturing at Renault and his top manager in Spain and Portugal, as well as president of Ifema , pointed out that not accessible to everyone. Some statements made after the European Parliament wants to ban combustion in 2035. In the French automotive group, where they now favor value over volume, they are committed to new mobility and want the range to be electric in 2030, among other things because until 2025 they have planned 25 launches (11 electric, including new versions of the classic R5 and 4L).

De Meo points out that at Renault “we came out of the emergency room”, with “the best results for a long time, two years ahead of our strategic plan announced in January 2021”. And that the context was not easy: inflation, chip crisis and exit from Russia

The CEO of the Renault group acknowledged that with regard to the revolution that transition ecologicalEurope has “cultural sensitivity and technological advantages”, but has been slower than the United States and China in the technological revolution. digitization. Although he does not refer to it directly, it cannot be ignored that the global automotive sector has been affected by the chip shortagewhich makes it difficult for him to recover pre-Covid levels and for example in Spain plunged him into a deep crisis that you see every month, moreover, most semiconductors are also made… in Asia (mainly in China and South Korea).

At the same time, De Meo pointed out that in Renault “We came out of the emergency room” because “our results are the best in a long time, two years ahead of our strategic plan announced in January 2021”. And that the context was not easy: “the inflation impacted our margins, the semiconductor crisis caused us to lose https://news.google.com/300,000 cars and, with our departure from Russia, our share price fell 35% in a matter of weeks.” “Our performance in the first half and our full year target, revised upwards, should silence those who said that Renault could not survive,” he said.

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