Luca de Meo, CEO of Renault, expressed doubts about Europe’s timeline for transitioning to electric vehicles. De Meo stressed that the automotive industry needs to reduce costs to achieve its electric vehicle goals. He emphasized the need for flexibility in the timeline, warning against abandoning the goal due to the current market slowdown.

Responding to a question about Renault’s ambitions to convert 100% of its European production to electric vehicles amid a sluggish domestic market, De Meo stated, “The truth is we are not yet on the right track to achieve 100% electric vehicles by 2035. If customers do not follow, we are all responsible, and we need to reduce costs.”

De Meo pointed out various challenges facing the automotive sector, including regulatory uncertainty and competition from China, which exacerbate the cost-of-living crisis in local markets, affecting the transition to electric vehicles. While global electric vehicle sales rose by 35% in 2023, they declined in 2024. However, new car sales in the European Union increased by 4.3% in June, reaching their highest level since July 2019, while battery electric vehicle registrations slightly decreased.