Auto giants launch wave of affordable EVs, challenging China's dominance

At this week's Paris Motor Show, a number of Europe's largest automakers debuted affordable electric vehicles (EVs) in an attempt to boost a decline in demand and reclaim some of the market share currently occupied by Chinese companies.

The biennial industry expo, which began in Paris on Monday and continues through Sunday, is regarded as having the potential to be a game-changer for the European auto sector.

Julia Poliscanova, senior director for vehicles and e-mobility supply chains at the Transport & Environment campaign group said “There are so many new models on show, and what is really great is that there are a lot of launches that are more affordable. So, Citroen, Peugeot [and] Renault, they are all showing some smaller affordable models”

On a journey to complete electrification, European automakers have been facing a number of issues, such as a lack of reasonably priced models, a slower-than-expected rollout of charging infrastructure, and an expected trade war with China.

Car makers have attempted to utilize the Paris Motor Show as a platform to introduce a variety of affordable models because they are well aware of the need to increase EV sales.

For instance, the Twingo E-Tech electric prototype was initially shown to the public by the French automaker Renault. When the all electric vehicle hits the market in 2026, it is anticipated to start at less than 20,000 euros ($21,800).

In the meantime, the new compact Citroen C4 and C4 X were introduced by car giant Stellantis, which called the vehicles "perfect examples" of the automaker's approach to the energy transition's issues.