The future of the French brand hangs in the balance: very important moments for Renault to enter the electric race. Competition on the market is becoming increasingly fierce and the next few years will be crucial for all players.
The future of automotive sector in Italy and Europe it is projected towards an electrified horizon: what is emerging is a path of energy and technological transition. Current trends and immediate challenges are creating a constantly evolving landscape.
Growth in the electric vehicle market is meeting obstacles that still need to be resolved definitively. Manufacturers find themselves balancing commitments to electrification with the need to maintain traditional models are profitablestill predominant in sales.
In 2024, the electric market in Europe shows very contrasting signs placed in a context of major global macroeconomic challenges. Electric car sales are not growing as much as expected. China has overtaken Europe as the world’s largest market for electric vehicles, but in Europe several countries are experiencing double-digit growth.
In a context of this type it is not difficult to understand what the difficulties are present for European producers. The market, in fact, seems to be for now in the hands of competitors from other continents.
Global competition
Competition in the electric vehicle industry intensifies globally, with Chinese and American manufacturers which are advancing rapidly. China, in particular, dominates the production of batteries and key componentsputting competitive pressure on European producers.
Not only that, since from the United States Tesla already presents itself as a solid and advanced reality. After all, it can boast a certain level of know-how in the sector. All these conditions are shaping a new market scenario, where diversification and flexibility become essential for survival and the success of European brands.
The partnerships of the future
All this imposes a type of innovative strategy to European producers, who find themselves suffocated by competitors already present in force. Some implications are also indicating contacts regarding a historic French brand.
Francois Provost of Renaultin fact, confirmed through a post on his social channels that the CEO Luca De Meo is in constant contact with partners like Dongfeng and Geely. Renault’s goal is to establish collaborations with Li Auto and Xiaomi to efficiently and competitively produce intelligent electric cars.
