The last time Tesla attended the Paris Motor Show was in 2018 when it launched the Model 3. Six years later, Tesla is again at the Porte de Versailles, this time with the Cybertruck and the Optimus humanoid robot. As the EV market slows down in North America, carmakers across the globe prepare for a bloody battle for the European EV market.
Although many traditional carmakers have noticed sales of electric vehicles have cooled down, many people are willing to replace their gas-powered cars with an EV. However, the appetite for expensive, luxury electric cars has decreased substantially, and there's a shortage of compelling models in the lower echelons of the market.
The main cause for this self-inflicted wound is that most carmakers lose money on their EV business, and launching cheaper models would hurt them even more. This is why pretending that the market doesn't like EVs anymore is comfortable for now. However, the times are not standing still because most carmakers are putting their EV plans on hold. There are younger, aggressive companies coming from China that see this as an opportunity. Recently announced tariffs will not deter them from their plans to sweep the market.
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