Could The Dacia Spring Inspire The Mass EV Market Europe Needs? [Forbes]
RENAULT SA UNSP/ADR (RNLSY)
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Source: Forbes
The Spring, made in China for Renault's value brand Dacia, starts at £14,995 ($19,100) after tax and is currently Europe's cheapest EV. Sales of EVs in Europe have stalled and that is bad news for the industry's huge sales targets set by the European Union. EVs might win a market share of around 20% this year but have to accelerate to around 80% in 2030 and 100% by 2035. French automotive consultancy Inovev has led the way pointing to the impossibility of the targets, saying in a report earlier this year EV sales would account for only 40% of the European market by 2030. Seriously affordable EVs will be required to meet those targets. Inovev supports splitting the market for EVs, requiring the premium sector to meet the targets, while cheap ICE cars would be allowed. The rules could be different for countries too, with poor nations being allowed ICE vehicles for longer, while the likes of Germany and France take the strain for EVs. Citroen e-C3 electric vehicle. Photographer: N
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