The boss of Renault once again denounced the lack of ambition of European institutions which are content to impose standards without implementing an industrial policy to preserve the automobile sector. According to Luca de Meo, manufacturers on the continent must, each year, integrate between eight and twelve new regulations.
Luca de Meo, boss of Renault, points out European regulatory inflation. ©JA
Luca de Meo is no longer president of ACEA, but he has lost none of his freedom of speech. The boss of the Renault group has once again crushed the European industrial doctrine on electric cars. In an interview with the Belgian newspaper The Timehe predicts an inflation of 40% in the cost of producing an electric car by 2030.
According to him, European regulatory inflation will have a significant impact on production costs. He thus calculated that Brussels could impose between eight and twelve new standards each year by 2030. As he had already quantified, the Renault boss recalled that the integration of these new regulations will cost him no less than one quarter of the total envelope devoted to R&D by 2030. Luca de Meo estimates that at the same time, the Chinese are always more competitive.
-Purchasing power at half mast
According to him, Europe is heading straight towards an insurmountable jaws effect, since this increase in costs will combine with a drop in purchasing power. According to him, the middle classes no longer have the means to afford a car, and the outlook for market development does not suggest any rebound in purchasing power.
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