Renault’s chief executive has criticised Tesla for cutting electric vehicle prices, warning it destroys value for customers, as the French carmaker announced a doubling of profit margins last year.
Luca de Meo said the US electric-car maker’s constantly fluctuating prices, including the latest cut last month in the US, Europe and China, damaged customer confidence in the value of their vehicles.
“I hope that they [Tesla] continue to reduce to zero, but we will continue to protect the value of our electric vehicles,” he said. “This is destroying value for the customer, for sure, when you do this.”
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