From Nasdaq:

Renault plans to take on U.S. rival Tesla in the electric vehicle market in France by focusing on new models and reducing the price of its Megane model.

Renault, previously a pioneer in the electric vehicle market, saw Tesla and China’s MG brand surpass its sales in France last year.

To counteract, Renault will launch the new electric Scenic and the R5 models and has reduced the price of the Megane by 10%.

With state bonuses factored in, the Megane is now cheaper than the Model 3 and its Chinese competitor.

Renault anticipates strong competition in pricing and leasing in the electric vehicle market for the next few years.



Read more: Renault banks on new models, Megane price cut to fight off Tesla in France