Western car makers look to slash EV costs to fight Chinese onslaught

Western car makers look to slash EV costs to fight Chinese onslaught

FILE PHOTO: A SAIC Motor sign is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/File Photo

Western automakers are fretting about an “invasion” of cheap Chinese electric cars in Europe, prompting France’s Renault to say on Thursday it was aiming to slash production costs for its electric models by 40%.

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