Hyperdrive
Renault Sinks as Tesla Price Cuts Raise EV Margin Concerns
- French company is navigating costly shift to electric vehicles
- Carmaker plans to stick to its pricing policy, CFO says
Megane E-tech electric vehicles at the Renault flagship store in central Paris.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
Renault SA slumped the most in more than six months on concerns that pricing pressure across the auto industry may derail the French carmaker’s recovery.
The shares fell as much as 7.9% in Paris after Tesla Inc. signaled it’s not done reducing electric-vehicle prices even at the expense of its profit margins. Renault’s peers preparing to introduce more battery-powered models including Stellantis NV and Volkswagen AG also declined.