“It must be a battle. They (Chinese EV makers) are clearly very competitive in the electric car value chain. I think they are a generation ahead of us. We need to catch up very quickly.” Renault CEO Luca de Meo said in the Munich IAA car show. In the early 21st century, the automotive industry underwent a seismic shift driven by the emergence of EVs (electric vehicles), with Tesla's Roadster leading the charge since 2008. This transformation resulted in global NEV (New Energy Vehicle) sales exceeding 10 million vehicles in 2023, nearly tripling in just two years.
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