Renault-Nissan revealed plans to make available low-cost electric cars for the Chinese market within two years as it looks to tap into fast-growing demand for zero-emission vehicles in the country.
Group CEO Carlos Ghosn told reporters at the Web Summit in Lisbon this week his company aims to take on low-cost local brands in China by developing electric vehicles with price tags starting at US$8,000.
Go deeper with GlobalData
He pointed out that Chinese demand for electric vehicles is growing rapidly, driven by a government under increasing pressure to respond to environmental concerns. Sales are supported by the availability of cheaper batteries and improving recharging infrastructure, as well as consumer incentives.
Ghosn said the Chinese government is providing a lot of support for its domestic electric car market, which is expected to account for one-third of the global sales in 2016.
“China will become a very big market for electric cars, without a doubt,” he added.
Ghosn said it is obvious electric vehicles will be a much bigger part of the global automotive industry of the future and he wants Renault-Nissan to maintain a leading position in this segment.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe company began mass-marketing the Leaf electric car in 2008.
