A mix of high labor costs, shrinking markets, uneven electric vehicle sales, and tough new competition from China create a daunting challenge for Europe's auto industry.
Stellantis NV, Renault SA, and Volkswagen AG are unveiling budget EVs at the Paris Motor Show to counteract a slump caused by reduced government incentives.
With competition from Chinese manufacturers gaining strength, the stakes for European automakers are exceedingly high at the biennial Paris Motor Show.
Renault’s new EV designs signal hope amidst a climate where automakers are losing market share to more affordable electric options from rivals.
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