Renault boss says electric car future is in doubt with sales slumping in Europe - 'That's the truth'

Despite this, he noted that it would be a "serious strategic error" to ditch any electric vehicle goals simply because of a drop in the uptake of EVs.

Renault aims to "do more with less" by reducing CO2 emissions throughout the lifecycle of its vehicles with the aim of reaching net zero by 2040 in Europe and 2050 worldwide.

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Renault currently has three electric vehicles on the UK market - the Kangoo E-Tech van, the Megane E-Tech SUV and the Trafic E-Tech panel van.

With prices starting at £33,995, the Megane E-Tech comes equipped with 285 miles worth of driving range as Renault describes it as "the electric car for petrolheads".

When questioned about Renault's shift to have 100 per cent of vehicles produced be electric in Europe despite the waning sales, de Meo delivered his verdict.

He said: "The truth is we are not yet on the right trajectory to achieve 100 per cent electric cars by 2035.

"That's the truth. If customers don't follow us, we're all responsible. We need to cut costs," Reuters reported.

The Paris-based brand is also set to release the 5 E-Tech in the near future which will be its budget model with an estimated price of just £25,000 and impressive 250-mile range.

The Renault 5 will make its return after almost 40 years, with design boss Gilles Vidal saying that it was de Meo's idea to relaunch the popular model which sold around 5.5 million models between 1972 and 1985.

Experts have pointed to a lack of Government incentives and legacy fears around moving to electric vehicles as a reason for the slow transition towards EVs.

Experts have called on the Government to make several changes to improve conditions including the introduction of grants to lower costs and a boost to the number of EV chargers around the country.

In June 2024, Renault sold 6,011 vehicles in the UK, registering an impressive 3.35 per cent of the market share, according to the Society of Motor Manufacturers and Traders.

This is an impressive jump of almost 2,000 vehicles compared to 2023 when the French brand sold 4,154 vehicles for a market share worth 2.34 per cent.

When looking at Renault's sales in the year-to-date, the brand has sold 28,596 vehicles - more than Mini, Tesla, Honda, Fiat and Citroen.

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It remains to be seen whether the UK will stick with the 2035 deadline as the new Labour Government aims to reinstate the original 2030 deadline to ban the sale of new internal combustion engine vehicles.