Cutting the price of electric cars would be “not healthy” for Europe’s car makers while profits are still hard fought, according to Luca de Meo, Renault Group CEO and new chairman of European car industry lobby group the ACEA.
Tesla cut prices of its Model 3 and Model Y best-sellers by up to £8000 in the UK as part of global redrawing of its price lists earlier in January, prompting similar responses from Ford in the US on the Mustang Mach-E and Xpeng in China on two models.
“I think that a battle on pricing on electric cars right now when we're starting operations isn't the best thing that could happen to the industry,” de Meo said.
