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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. I'm very pleased now

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Speaker 1: to be joined by the CEO of Reno. Look at

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Speaker 1: the mail. Thank you so much for joining us today.

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Speaker 1: I'm Bloomberg. So listen, you've launched all of these new cars,

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Speaker 1: the EV's in front of a backdrop of EV demand

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Speaker 1: falling precipitously. How are you adapting your sort of strategy there?

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Speaker 2: I mean, actually, we have a strategy since four years

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Speaker 2: on two legs. One is we have very strong iybrid technology,

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Speaker 2: so working pretty well. We're number two, number three in

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Speaker 2: Europe on the ibrid segments, on all segments. But on

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Speaker 2: the other side, we made the decision to develop two platforms,

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Speaker 2: one for small cars and one from medium cars full

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Speaker 2: electric past we think that we need. These are two

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Speaker 2: different sports and you know, an EV and an IBRID

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Speaker 2: card to different animals, and here you see the result.

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Speaker 2: The good thing about that is that you can get

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Speaker 2: out cars like Renal five, Rental four or the twin

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Speaker 2: or legendary products, you know, and with the best probably

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Speaker 2: the best EV platform for small cars in the world.

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Speaker 1: Right and then in terms of the sort of magic

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Speaker 1: number for the pricing on evs, what do you think

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Speaker 1: that is in order to have it really take off

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Speaker 1: here in Europe.

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Speaker 2: Now, look, I think I think we speak too much

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Speaker 2: about least price of the car. What you should include

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Speaker 2: in the equation is also you know, the cost of

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Speaker 2: using this thing. So normally charging is fifty thirty percent

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Speaker 2: of fueling, okay, and the maintenance cost that is actually

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Speaker 2: alf on a car, So normally we should talk about that.

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Speaker 2: But if you look at the Toronto five is twenty

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Speaker 2: five thousand euro as a starting price, it's actually ten

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Speaker 2: thousand euro less than any of the competitors. Why because

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Speaker 2: we actually focus on the old ecosystem, the platform on

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Speaker 2: this with the Twin that you see, you know, close

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Speaker 2: to us, we will be able in twenty twenty six

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Speaker 2: to go below twenty thousand urine entry price. I think

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Speaker 2: it's a kind of a decent you know proposition already,

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Speaker 2: I mean above twenty five thousand you you probably have

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Speaker 2: fifty sixty percent of the European market in general.

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Speaker 1: And really a difference from what we were talking about

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Speaker 1: a year ago, right in terms of emissions regulations. You've

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Speaker 1: been very outspoken about this. The EU, on the one hand,

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Speaker 1: wants to sell more EVAs on the other is going

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Speaker 1: to make it more difficult starting next year. How much

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Speaker 1: you intend or how much you think you're gonna have

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Speaker 1: to pay in terms of fines coming next year.

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Speaker 2: I mean we as an industry, we estimated that if

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Speaker 2: the market continues at that speed, which is out of

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Speaker 2: what we should be for a number of reasons. It's

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Speaker 2: not necessarily our fault as an OEMs because we were

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Speaker 2: the ones that they have engaged two hundred and fifty billion.

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Speaker 2: You're into the thing, so we have all interest that

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Speaker 2: this thing works. So there's nobody in the industry that

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Speaker 2: actually discussed the combonization path. Is the rhythm and the

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Speaker 2: way and the mechanism to adjust to get to the target.

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Speaker 2: This is the important discussion. So I calculate, we calculate

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Speaker 2: that it's more than a fifteen sixteen billion, you know,

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Speaker 2: if it continues like this. But then you have people

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Speaker 2: like us that are trying to bring let's say, a

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Speaker 2: solution like this one. I mean, give you an information

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Speaker 2: for Bloomberg. We actually made thirty five percent mix of

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Speaker 2: EV this weekend on the open door in France. So

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Speaker 2: it means that when you have the product, maybe you

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Speaker 2: can change the destiny of thing. But I speak as

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Speaker 2: a as a president of the ASSAY, I have to

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Speaker 2: speak for the old industry, right and if you look

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Speaker 2: at the speed, it's not enough. So we need everybody behind,

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Speaker 2: also the consumer, because we are doing something that is

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Speaker 2: good for the prodectivity and society.

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Speaker 1: So what do policymakers need to do in order to

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Speaker 1: get that? If they don't want to change their desires,

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Speaker 1: how do they change the desires of the consumer?

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Speaker 2: I think we are let's say, you know, this is

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Speaker 2: our responsibility with the product. I think we need to

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Speaker 2: accelerate the charging infrastructure. I think we need to give

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Speaker 2: transparency or the pricing of electricity and find a way

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Speaker 2: to make it at least stable. These things are the people,

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Speaker 2: and I believe that you know, in some of the

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Speaker 2: areas you probably need some support to boost the demand

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Speaker 2: because the demand is at that level is not natural.

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Speaker 1: Yeah, And then as president of the SCA, do you

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Speaker 1: see factory closures this year in Europe happening at a

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Speaker 1: sort of more rapid pace.

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Speaker 2: I if the thing goes like this, you know, one

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Speaker 2: of the solutions to make the math and to make

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Speaker 2: the average fleet, you know, one of the solutions is

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Speaker 2: to actually stop producing combustion engine cars that are big offenders.

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Speaker 2: And we made the estimation. It's like between passenger car

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Speaker 2: and utility vehicles like a commercial vehicle. It's probably we

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Speaker 2: estimate two point eight million cars. This is ten plants

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Speaker 2: in Europe. So that's that's the of course, the way

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Speaker 2: you get there is, you know, you buy credits to

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Speaker 2: the Chinese of to Tesla. You you know, you you

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Speaker 2: push the price of evs so that you but you

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Speaker 2: kill the baby, you know, and the cradle or or

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Speaker 2: you know, you stop producing let's say combustion engine car.

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Speaker 2: If you only do that is two point eight million cards.

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Speaker 2: So it's big story.

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Speaker 1: And then I've a quick question for you in terms

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Speaker 1: of your view on the euse approach on the terrafts

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Speaker 1: or China. Do you see that you could potentially have

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Speaker 1: a partnership with one of the Chinese companies here? Is

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Speaker 1: that going to be the new model going forward? Kind

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Speaker 1: of inverting what we saw traditionally We.

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Speaker 2: Always said that, I mean, I don't comment on the

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Speaker 2: on the on the tart thing because this is almost

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Speaker 2: a legal thing. This is based on an application of

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Speaker 2: the rules of the WTO that everybody's signed. So I

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Speaker 2: have nothing to say.

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Speaker 1: Sure, but you adapt your business as a function of

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Speaker 1: what happens with.

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Speaker 2: Right, Yeah, I mean I adapt on my business. I

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Speaker 2: don't have a lot of transaction between the China and Europe.

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Speaker 2: This is true maybe for other companies. So I don't

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Speaker 2: want to comment on that because this is nothing to

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Speaker 2: comment from business point of view. What we also said

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Speaker 2: is that without good cooperation with the Chinese, I think

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Speaker 2: it would be more difficult to ramp up electrification in Europe

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Speaker 2: because they have in their hands, you know, materials, chemistry,

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Speaker 2: you know, gigafactory capacity, battery capacity, et cetera. So so

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Speaker 2: we need to find a deal with China, okay, and

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Speaker 2: we need to get used to a form of co

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Speaker 2: petition that meets basic and one side you compete, on

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Speaker 2: the other side you co operate, as actually they did

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Speaker 2: with us when we went twenty five years ago in

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Speaker 2: China to take also advantage of the Chinese market.

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Speaker 1: And then a final question for you, did you watch

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Speaker 1: Elon Musk's presentation of the cyber cab? What did you did?

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Speaker 1: Would you make of that?

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Speaker 2: In the autonomous but look, I think you know, I

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Speaker 2: think we are investing in anonomous driving. I guess Renaludd

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Speaker 2: kind of be a follower. We have initiatives with a

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Speaker 2: company called we Ride to go to a level four.

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Speaker 2: I'm more interested, honestly in looking at cars that are evolutionary, connected,

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Speaker 2: intelligent that can speak where you know, the man machine

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Speaker 2: interface is very modern. So I'm more interested on using

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Speaker 2: the power of technology to make kind of machine become humans.

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Speaker 2: That's I think most important. And then so I don't

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Speaker 2: want to comment on anyway, you know, test lass endeavors

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Speaker 2: and strategy is not you know, I'm not an opinionist.

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Speaker 2: I'm you know, I'm a competitor.

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Speaker 1: So all right, wellloc at to Mayo, thank you so

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Speaker 1: much for your time there, and the sort of the

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Speaker 1: future of the car industry and how he sees the

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Speaker 1: sort of future of the machine and human being sort

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Speaker 1: of collaborating in the future for this for this industry,