European Automakers Consider Alliance to Develop Affordable EVs

Stellantis, Volkswagen, and Renault explore a strategic collaboration to compete with rising Chinese and global EV competition.

Stellantis, Volkswagen, and Renault are considering a collaboration to develop affordable electric vehicles (EVs) to compete with Chinese automaker BYD and other rivals.
The proposed alliance aims to share the massive costs of EV development, inspired by the 'Airbus of autos' concept, to create a competitive edge in the EV market.
European automakers face challenges from reduced EV incentives, rental company cutbacks, and rising competition, highlighting the urgency of a strategic shift.
Battery material costs are decreasing, signaling potential for cheaper EV production and more competitive pricing in the future.
The industry-wide move towards EVs and potential collaborations raise questions about the impact on consumer choice and market competition.