“There is no more money in the European markets”: Luca de Meo predicts a 40% increase in electric cars in 2030

While consumers are still waiting for the small electric city car at a reasonable price, Renault CEO Luca de Meo sees a 40% increase in production costs in 2030.

According to Luca de Meo, CEO of Renault, the future of the electric car does not seem bright. In an interview with our Flemish colleagues, De Tijd, relayed by Le Point, the latter speaks at length about the electric sector.

This 40% increase, according to the CEO of the diamond brand, is due to Europe. He confides that it is responsible for it, because it overwhelms automobile groups with restrictive measures, which will therefore have to mobilize energy and investments in order to meet these requirements. A quarter of R& D – research and development – ​​will be devoted in the next five years to meeting the constraints of obstacles due to excessive regulations.

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Insufficient equipment

He also explains that the charging infrastructure for electric cars is insufficient. It should be six to seven times faster. He also details the fact that there is “no more money on the European markets to finance the automobile”. The various regulations from the EU are not geared towards businesses and supporting the economy, thus discouraging potential investors, according to him.

Luca de Meo also reveals that the Chinese “are at least ten years ahead and that they hold, with the raw materials, almost complete power over batteries”, allowing them to sell them at the price of their production cost to their national manufacturers, and at a high price to foreigners.

1.72 million electric cars registered

Registrations of new electric cars in France have fallen by 3.2% in 2024. With 1.72 million cars registered last year, the market is still very far from the 2.2 million of 2019.