Renault Aims for EV Comeback with Retro-Styled Renault 5
• Renault recently launched a new retro-styled electric vehicle, the Renault 5, hoping to prove small EVs can be popular and profitable
• Renault boss Luca de Meo admitted the company has fallen behind Chinese and US automakers in the EV market and needs to catch up
• Meo wants to offer an affordable EV to help more consumers adopt the new technology, though making a profit will be difficult
• China has advantages in EV battery production that European automakers need to cooperate with to close the technology gap
• Meo remains confident Renault and other European automakers can catch up, but says "we can't surrender" market leadership to Chinese and US brands