{"id":2021244,"date":"2023-09-04T08:15:02","date_gmt":"2023-09-04T12:15:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/europes-carmakers-target-chinas-cheap-ev-edge-at-munich-car-show\/"},"modified":"2023-09-04T08:17:44","modified_gmt":"2023-09-04T12:17:44","slug":"europes-carmakers-target-chinas-cheap-ev-edge-at-munich-car-show","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/europes-carmakers-target-chinas-cheap-ev-edge-at-munich-car-show\/","title":{"rendered":"European carmakers aim to challenge China&#8217;s dominance in the affordable electric vehicle market at the Munich car show."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feuropes-carmakers-target-chinas-cheap-ev-edge-at-munich-car-show%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2021244&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By Victoria Waldersee<\/p>\n<p>MUNICH (Reuters) -Europe\u2019s carmakers have a fight on\u200c their hands to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/europes-carmakers-target-chinas-cheap-ev-edge-at-munich-car-show\/\" title=\"European carmakers aim to challenge China's dominance in the affordable electric vehicle market at the Munich car show.\">produce lower-cost electric vehicles<\/a> (EVs) and erase China\u2019s lead in developing cheaper, more consumer-friendly models, industry analysts and executives said at Munich\u2019s IAA mobility \u2062show. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>\u201cWe have to close the gap on \u200bcosts with some Chinese players that started on EVs a generation earlier,\u201d\u200d Renault CEO Luca de Meo told Reuters at the car show, adding when manufacturing costs decline, prices will also go down.<\/p>\n<p>De Meo\u2064 said as part of the French carmaker\u2019s drive toward price parity\u2063 with the Chinese, its R5 EV due out next year will be 25% to 30% cheaper than its electric Scenic and Megane\u200d models. <\/p>\n<p>Chinese EV makers, including BYD, Nio\u2064 and Xpeng are all targeting Europe\u2019s EV market, where sales soared nearly\u200d 55% to about 820,000 vehicles in the first seven months of 2023, making up about \u206213% of all car sales. <\/p>\n<p>According to auto consultancy Inovev, 8% of new EVs sold in Europe so far \u200cthis year \u200dwere made by Chinese brands, up \u200bfrom 6% last year and 4% in 2021.<\/p>\n<p>About 41%\u200c of exhibitors at this year\u2019s Munich event \u2063are headquartered in Asia, with double the \u200dnumber of Chinese \u200ccompanies\u200b attending, including EV makers BYD and Xpeng and battery maker CATL.<\/p>\n<p>\u201cWhat used to be a \u200bperformance for the German car industry\u2063 to demonstrate its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-shows-absolute-domination-in-latest-harvard-poll-beats-biden-by-5-desantis-by-40\/\" title=\"Trump dominates latest Harvard poll: Defeats Biden by 5, DeSantis by 40.\">extremely strong position<\/a> is now a \u200bmeeting of equals between progressive players from around the world, especially China,\u201d said Fabian Brandt of consultancy Oliver Wyman.<\/p>\n<p>The arrival of Chinese EV makers in\u2064 Europe has raised concerns they will undercut local \u2064carmakers and dominate EV sales.<\/p>\n<p>The\u2064 average price of an\u2064 EV in China\u200c was less than 32,000 euros ($35,000) in the first half of 2022 compared with around 56,000\u200b euros in Europe, according to \u2062researchers at Jato Dynamics.<\/p>\n<p>\u201cEurope needs to\u2062 stop being naive \u200bfrom a macroeconomic point of \u2063view\u200c in the \u200bface of China,\u201d Renault\u2019s engineering head Gilles Le Borgne, told journalists on Sunday, pointing to the country\u2019s control of the full battery supply \u200bchain.<\/p>\n<p>Mercedes-Benz will present its\u200c CLA compact class and\u2064 BMW its\u2062 Neue Klasse, both of \u2064which target higher range and efficiency, while halving production \u2063costs.<\/p>\n<p>Volkswagen CEO Oliver Blume told reporters that through \u2064its partnerships in China, the carmaker \u200baims to cut battery cell costs by 50%. <\/p>\n<p>\u201cWe will have to work hard\u200b on \u2062the cost side,\u201d Blume said.<\/p>\n<p>While \u200dcarmakers inside the show were talking up their\u200d green vehicles, \u200bactivists from Greenpeace staged a protest against emissions from their fossil-fuel \u2063powered cars that are still being produced.\u200c <\/p>\n<p>Protesters sank three upper sections of cars into an artificial lake\u2064 in front of\u2064 the auto show, holding\u200c up signs reading \u201cAuto \u200cindustry sinks climate protection\u201d and \u201cShrink Now Or Sink Later\u201d.<\/p>\n<p>($1=0.9273 euros)<\/p>\n<p>  (Writing by Nick Carey; Reporting by Victoria Waldersee, Gilles Gillaume and Christina Amann; Editing by Friederike Heine, Clarence Fernandez and Sharon Singleton)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/europes-carmakers-target-chinas\/attachment\/file-photo-a-renault-wallbox-charging-station-is-used-by\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>This week has been filled with major headlines in the U.S and \u2063around the world<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Mark Mix of the National Right to Work Legal Defense Foundation says his organization \u200cis fighting Big Labor\u2019s Pro Act in Congress.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>The Heritage Foundation\u2019s Brent Sadler says \u200cthe recent drone \u200battacks on Russian soil may be intended to \u2064provoke a negotiated solution with Russia<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Joe Biden celebrates the US\u2062 Jobs Report, hides Hunter\u2019s job reports and delivered some nice gas prices \u2062just in \u200dtime for Labor Day Weekend.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>(Reuters) -Alibaba Group Holding Ltd\u2019s cloud division is \u200dweighing raising funds via a private round from Chinese state-owned enterprises ahead of the\u2026 <\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>LONDON (Reuters) \u2013 Britain set out its objectives for its global artificial intelligence (AI) safety\u200c summit on Monday, focusing on understanding the\u2026 <\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>BENGALURU (Reuters) \u2062\u2013 Indian fintech firm Paytm on Monday launched a\u200b \u2018soundbox\u2019 device that lets \u200dmerchants accept both mobile and\u200b card payments\u2026 <\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>By Victoria Waldersee MUNICH (Reuters) -CATL will produce its upcoming fast-charging\u200b Shenxing battery at its plants in Germany and Hungary alongside China,\u2026 <\/h2>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Europe&#8217;s carmakers are facing a tough battle to create affordable electric vehicles (EVs) and catch up with China&#8217;s dominance in producing cheaper and consumer-friendly models, according to industry experts and executives at Munich&#8217;s IAA mobility show. Closing the cost gap with Chinese competitors is crucial.<\/p>\n","protected":false},"author":66,"featured_media":2021245,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2021244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2021244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2021244"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2021244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2021245"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2021244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2021244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2021244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}