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2023-09-03 20:51:29
MUNICH, September 3 (Archyde.com) –
Renault RENA.PA cannot afford to get into a discount race with Tesla TSLA.O or Chinese automakers, the French group’s engineering director Gilles Le Borgne told reporters at the auto show from Munich.
“The right strategy is to maintain prices and adjust fixed costs,” added Gilles Le Borgne.
Renault’s strong presence in European markets makes it one of the automakers most exposed to new competition from Tesla and Chinese electric vehicle makers, UBS said in a note this week.
(Gilles Guillaume report, written by Christoph Steitz, French version Jean-Stéphane Brosse)
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