Natalie Knight: Okay. Let me talk about the E-C3, because I share your view that I think this is a real milestone in the industry. And when we look at what’s happening in the EV marketplace, I think this is one where our belief is very strong that you’ve got to win when it comes to both technology and affordability and not only is it that we’ve got the E-C3, but if you look at the Peugeot 3008, that’s an example where we’ve brought out a product with 700 kilometers of range. So we are also looking at what does it take to have the best products in the market in terms of the technical prowess, all of the things that people will expect. But when I think of the E-C3, this is one that’s so important to us, because what it does is it really plays into that strength that we have as a company, which is about being able to come with products that are, I think, very approachable, affordable, accessible for consumers, and that’s part of our big focus as a company, but also doing that at low prices.
And what’s allowing us to do that is really the platform thinking that we have as an organization. This is something where we’re really looking at using those platforms across multiple energy sources, but then also being able to really use them successfully across our brands. We also, I think, are one of the industry leaders when it comes to sourcing, certainly amongst the Western brands, and that’s something where we are efficient, we can always be better, but where I think we’re doing a very strong job. And it also has to do with product definition, making sure that we really are looking at what exactly is the consumer looking for at those price points. So when we bring out the E-C3 that’s coming in the first quarter, that’s one where we’re doing a midrange vehicle.
And you’ll see us, as I said, in ‘25, coming out with a shorter range, because that’s something where we believe there’s another critical price point that we can address that is going to be very important. And I’ll take the opportunity also to lean over a little bit into Leapmotor, you didn’t ask, but I think that’s another one of the things that’s a great opportunity for us is not only are we now going to have a 15th brand that we can be using in markets outside of China to really come at that consumer who is looking for those competitive price points and wants the right technology and is excited about that kind of offering. But I’m also equally excited about the learnings we’re going to get from collaborating with one of the up and comers in that Chinese ecosystem of everything around NEV, because it is something where we then have the ability to have real-time benchmarking when we think about what does best-in-class look like.
And when we talk about our due diligence there, we did find that the price differences that you see between Chinese and Western brands, they definitely exist. There’s a lot of it is around the verticalization and how does that challenge us to think about doing that even better. But also, there are other opportunities there, I think, where it’s been an environment that’s very focused on speed and agility, and that’s something that will help us in that area as well. So, long answer to a short question, but I think one where I hope that shows we’re very motivated on this side. We know that the markets will do what the markets will do. But we believe if we’ve got the best product out and we are continually looking to how do we innovate, how do we accelerate, how do we focus on the affordability, then we have what it takes to be a winner in this space.
José Asumendi: Thank you very much. The second question was in relation to BEV penetration in Europe, whether you have a target or how do you see the progression in the coming quarters? If there is a figure or a target behind that share of BEV? Thank you.
Natalie Knight: I’m sorry. Could you just repeat? I couldn’t hear the first word or two you said something about BEVs in Europe?
José Asumendi: Yes. Well, the question relates around what is your current share of electric vehicles within your product mix in Europe? And how do you see that evolving on a six, nine month obviously, with all these product launches you’re going to have. Your market share in Europe is going to evolve positively or your share of electric vehicles within the product portfolio is going to develop also upwards? Do you have any thoughts with regards to the share of electric vehicles within the business in Europe?
Natalie Knight: Yes. I mean right now, it’s around the 16%, 17% level, and it’s definitely something that we’re launching. We’ve got 28 BEVs out in the market globally, and we’re planning to extend that market coverage and the market share when we look at next year. So I think it’s about moving into the C segment, moving into the C segment SUV. So that’s where you’ll see us play a bigger role. And I think the next threshold for us as a company is, how do we get to 20%? That’s one of the things – it gives us a little bit of time and energy to do that. But as a Group, that’s something we’re very focused on. And I think that position for us of being number 2 in the market and overtaking Tesla was sort of an important psychological hurdle for us as a business. And now it’s on to the next bigger and better things when it comes to Europe and EVs.
José Asumendi: Brilliant. Thank you so much.
Operator: Thank you. And we’ll now take our next question from Thomas Besson at Kepler. Your line is open. Please go ahead.
