SOCHAUX, France -- Peugeot won’t cut its prices to compete with Tesla in Europe, but instead will aim to make its electric vehicles more “accessible” though a range of financing offers and progressively reducing manufacturing costs by 40 percent through 2030, brand CEO Linda Jackson said.
Jackson, speaking at Peugeot’s factory in Sochaux at the reveal of the new 3008 compact SUV – which is being aggressively promoted in Europe as an EV – said she wants to maintain Peugeot’s upper-mainstream market profile.
“We’ve got lots of other Stellantis brands in those positions,” she said, speaking of lower-priced vehicles.
The Tesla Model Y, a fastback-styled SUV like the new 3008, is the best-selling vehicle in Europe this year. Tesla CEO Elon Musk has aggressively cut prices by thousands of euros, edging the premium brand into the same territory as Peugeot and Volkswagen.