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Electric car company charging too early

In the United States, Tesla sells more electric vehicles than any other car manufacturer. In the much larger European EV market, the award is still awarded to the Renault-Nissan-Mitsubishi alliance, but Volkswagen surpassed it last year and Tesla is approaching.

The failure of Renault and Nissan (Mitsubishi later joined the team) to lead early leads of plug-in cars like the Nissan Leaf to strong growth prospects seems to have missed a huge opportunity in car history. I will.

On Thursday, Renault followed Nissan by laying out a “new beginning” a few years after the rocky. The company has some protracted advantages to EVs, but its turnaround relies on old-fashioned virtues such as cost control and the sale of heavy vehicles.

Luca de Meo, CEO of marketing man who joined Renault from Volkswagen last year, wants to turn the page about the constant pursuit of sales and scale encouraged by his predecessor Carlos Ghosn. As Ghosn pushed small cars into distant emerging markets, costs rose and profits plummeted. Like Nissan in the US, Renault now needs to come up with more attractive products that can get higher prices while at the same time finding savings.

It takes time. By 2023, the company’s main focus will be on profit margins and cash, with a minimum operating margin of just 3% that year.

Electric car company charging too early

Source link Electric car company charging too early

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