European Electromobility's Potential Lifelines for 2025: Renault and Stellantis
The European automotive industry is gearing up for a new phase of growth in electric vehicles (EVs) from 2025, with several major manufacturers planning to introduce low-cost electric cars to meet the growing demand and help meet new CO2 emission targets set by the EU by 2025.
According to GlobalData, BMW aims to reach 25% of its electric vehicle sales by 2025, representing between 300,000 and 400,000 units. These units could account for ten to 15% of the battery electric vehicle (BEV) market. BMW's goal is not only to increase its EV sales but also to reduce the carbon footprint per vehicle by 80% in production, 50% in the use phase, and over 20% in the supply chain by 2030.
BMW's rivals, Hyundai, Kia, and Volkswagen, also have plans to introduce low-cost electric cars in the coming years. The Renault-Nissan-Mitsubishi consortium could achieve a 17% share of electric car sales by 2025, leading to a 68% reduction in CO2 emissions. According to Transport & Environment (T&E), both manufacturers are set to launch a series of affordable electric models.
Renault will release the new Clio 6th generation with hybrid/48-volt mild hybrid versions and the Twingo E-Tech electric coming in 2026. Stellantis is proposing small electric cars under 3.5 meters and under 15,000 euros with reduced safety standards. BMW offers models like the BMW iX3 and i4 eDrive35, priced around 44,500 euros. Other affordable electric cars around or under 35,000 euros include the Renault 5 E-Tech (~24,900 euros), Dacia Spring (from 16,900 euros), and MG5 (~35,490 euros). The Hyundai Inster also appears as a very affordable small EV for about 25,000 euros with up to 350 km range.
Stellantis is planning to launch the Fiat Grande Panda, priced under 25,000 euros, and expects to capture an 18% share of the electric vehicle market. The company is betting on a combination of electric models and hybrid versions to meet its emission reduction targets.
By 2025, up to seven electric models priced under 25,000 euros are expected to be available from Renault and Stellantis. The CitroeΜn e-C3 will have a starting price of 19,990 euros. BMW surpassed the EU fleet target limit of approximately 126 grams per kilometre in 2023.
A YouGov study for T&E showed that 35% of new car buyers would opt for an electric vehicle if the price was below 25,000 euros. The T&E report suggests that these units could support the growth of the BEV market, which could reach up to 2.8 million units by 2025. Currently, 25% of European consumers are already willing to purchase a zero-emission vehicle at current prices.
The growth of EVs was slower than expected between 2022 and 2024 due to manufacturers prioritizing internal combustion models and premium large vehicles. However, with the introduction of affordable electric cars, the growth of EVs in Europe is expected to accelerate from 2025 onwards. Renault and Stellantis are positioned to play a crucial role in this context, with Renault planning to launch accessible models like the Renault R5 and Renault R4, priced at 24,900 euros.
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