FILE PHOTO: A Renault Megane E-Tech 100% Electric car is displayed Renault Group capital market day for its new electric vehicle unit Ampere, in Paris, France, November 15, 2023. REUTERS/Gonzalo Fuentes/File Photo
PARIS (Reuters) - Renault CEO Luca de Meo's bet on a low-cost gearbox technology is allowing the French carmaker to gain ground in Europe's fast-growing hybrid car market, giving it some breathing space as rivals get squeezed by the electric mobility challenge.
Demand for expensive electric vehicles is not taking off in Europe despite a European Union ban on combustion engine cars due to come into force in 2035, putting massive strain on Europe's automotive industry.
