The CEO of the car manufacturer Renault expects further restructuring for automotive conglomerates in the current crisis of the automotive industry. “Even the big players will have to ask themselves how they can reorganize” said Luca de Meo, looking at global automotive conglomerates, to the “Stern” magazine.
De Meo also warned about the Chinese competition, saying, “We are facing people who hunt in packs – this especially applies to the Chinese.” He called on the automotive manufacturers of the continent to cooperate more closely to meet the competition from China. “Our industry is hindering itself” he warned. “We are competing so fiercely that we can’t manage to do meaningful things together.”
Regarding electric drives and self-driving cars, the manager stated, “If we want to master technological leaps, I am sure that manufacturers in Europe must cooperate with each other and also with suppliers.”
De Meo also expressed his views on the chances of the German automotive industry to survive in the current crisis. “With the strength that the German automotive industry has created for itself, it is more difficult to question themselves” said de Meo. “This will take some time” he added. “But based on all my experience with the German industry, I am quite sure: when they have finally caught up, the Germans – as always – will emerge even bigger and stronger.