John Elkann Of Stellantis And Renault’s Luca De Meo Expect Fewer EU Rules To Cut Car Costs
The duo attended the Car Summit in London via video link
John Elkann, Chairman, Stellantis, in a joint appearance with Luca de Meo, CEO of Renault, has stated that the European Union (EU) must curtail rules that make cars, especially smaller models, costly and will hinder the European automotive market’s recovery.
Elkann held, “If we have fewer regulations, we can ensure that we build cars that are less expensive and so they’ll be more affordable.”
He was speaking at the Car Summit in London via video link.
The two participated together a week after the European Parliament voted to fast-track softer EU carbon dioxide (CO2) emission targets for cars and vans for allowing automakers more time to comply and reducing potential penalties.
Meanwhile, Luca de Meo clarified that the French automaker was ‘not gaining financially’ on small cars. He added that between 2015 and 2030, regulations will raise the cost of a medium-sized Renault car by 20 percent and small cars by 40 percent.
While explaining that regulations would significantly increase car costs, he said, “Small cars still have a purpose and could boost the automotive market in Europe.”
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