European automakers need more time to make the transition toward battery-electric vehicles, says Renault CEO Luca de Meo.

In an interview with French business newspaper, Les Echos, de Meo adds that Renault needs to cut the cost of its BEVs if it is to meet its target production numbers.

He tells the newspaper: “We need a little more flexibility in the schedule. However, it would be a serious strategic error to purely and simply abandon the objective because of the current market slowdown.”

The European Union has set the deadline of 2035 for new-car sales to be only of zero tailpipe emission BEVs or carbon-neutral ICE-powered vehicles.

On Renault’s own previously stated plans to move to 100% BEV production in Europe, he says: “The truth is, we are not yet on the right trajectory to achieve 100% electric cars by 2035. That's the truth. If customers don't follow us, we're all responsible. We need to cut costs.”

He also questions the punitive fines that come into play on automakers which must meet a 15% reduction next year in overall CO2 emissions of their total vehicles sold compared to 2023 levels, claiming it would cost domestic automakers about €10 billion ($10.9 billion).