- Investors, analysts eye bigger China stimulus at Saturday briefing
- 20 Pakistan coal miners shot dead in attack: police
- Blinken condemns China's 'increasingly dangerous' sea moves
- Toyota returns to Formula One as Haas partner
- EU chief says China must 'adapt its behaviour' to solve trade row
- Musk unveils robotaxi, pledges it 'before 2027'
- Lynx rally, stun Liberty in overtime in WNBA Finals opener
- Pogacar hunting 'perfect' season finale with Coppi's Il Lombardia record
- 'Soul of old Baghdad': city centre sees timid revival
- Kittle at the double as Niners hold off Seahawks
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Yankees advance in MLB playoffs as Guardians stay alive
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- Kamada says Japan can close in on World Cup place against Australia
- On US coast, wind power foes embrace 'Save the Whales' argument
- Renewables revolt in Sardinia, Italy's coal-fired island
- Argentina held, Brazil leave it late in 2026 World Cup qualifiers
- Obama blasts 'crazy' Trump in first rally for Harris
- 2024 Nobel Peace Prize, a plea in favour of world order?
- Fry homers as Guardians down Tigers to stay alive in MLB playoffs
- Japan PM presses China's Li on airspace intrusion
- In Trump 'Truths,' conspiracies, attacks -- and doubts about the election
- How Sebastian Stan found a 'relatable' Trump for 'The Apprentice' biopic
- Panama's water wheel trash collector keeps plastic at bay
- It's still 'the economy, stupid,' says US political guru Carville
- Five key dates in the history of the America's Cup
- Zelensky to meet Pope, Scholz as whirlwind Europe tour ends
- At least 10 dead in Florida but Hurricane Milton not as bad as feared
- Far from eye, Hurricane Milton's deadly tornados rampaged Florida
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Argentina held, Bolivia stun Colombia in 2026 qualifiers
- Socceroos have 'nothing to fear' from Japan
- Sean 'Diddy' Combs sex trafficking trial set for May 2025
- Bolivia stun Colombia in World Cup qualifiers
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Greece earn late win against England in Nations League, Italy-Belgium stalemate
- Trump biopic 'The Apprentice' hits US theaters weeks before election
- Pavlidis dedicates 'special' Greece win over England to tragic Baldock
- Wall Street stocks retreat from records on US inflation data
- 'Like a quake': Beirut shaken after deadliest strikes on centre
- Fallen giants Ghana in AFCON trouble after Sudan draw
- Asian leaders meet in Laos with US, Russia on world turmoil
- England gamble backfires as Pavlidis fires emotional Greece to victory
- Obama stumps for Harris, Trump talks US protectionism
- New-look France ease past Israel in Nations League
- Belgium fight back to draw with 10-man Italy in Nations League
- 'Get a life': Hurricane whips up US election storm
- Japan stay perfect in World Cup qualifying
Renault CEO urges 'Marshall Plan' for Europe electric vehicles
The chief executive of French automaker Renault called Tuesday for a European "Marshall Plan" to accelerate the adoption of electric vehicles and reduce carbon emissions in the face of Chinese competition.
The post-WWII US programme helped rebuild Western European economies, and Luca de Meo argued for a similar effort in a series of proposals made to launch a policy debate ahead of European parliamentary elections in June.
"A European Marshall Plan could be put in place to accelerate parc renewal and thus drastically reduce CO2 emissions," he wrote.
He likened it to the EU's post-Covid recovery plan, saying a special European fund could finance incentives for the purchase of new or used electric vehicles (EVs).
Europe aims to phase out the sale of traditional internal combustion engine vehicles by 2035 as part of its efforts to reach carbon neutrality by 2050.
But with "an onslaught of electric vehicles from China", de Meo said the European automotive sector needed the EU to develop an industrial strategy, much like it did to encourage the development of planemaker Airbus, and as the Chinese have done for EVs.
In particular he called for the creation of "green economic zones" like China's special economic zones, with companies receiving additional subsidies and tax breaks to encourage the rapid development of EVs.
He also called for cooperative efforts to build small and affordable vehicles in Europe.
"These cars would also significantly improve air quality in cities," wrote de Meo, noting that one city in four suffers from poor air quality, with 39 percent of emissions being caused by road traffic.
Size also matters, both in terms of environmental impact and cost.
"Driving around every day in an electric vehicle weighing 2.5 tonnes is clearly an environmental nonsense," de Meo said.
Meanwhile, compact cars are 20 to 30 percent cheaper to build, he added.
But efforts to lower the prices of small city cars are needed, as they have more than doubled over the past two decades while wages have risen much less, as are incentives and financing options to ensure consumers can switch to EVs.
He also suggested that Europe's 200 largest cities adopt incentives like offering free access for small zero-emission cars and vans, while making other vehicle owners pay.
C.Garcia--AMWN