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Renault and China-owned MG launched new electrified cars in Europe at the Geneva car show on Monday as Chinese automakers seek to take more market share from legacy European rivals. Europe's auto industry is scrambling to cut costs and roll out more affordable, well-reviewed electric vehicles (EVs) to counter the arrival of cheaper Chinese models. The strong presence of Chinese competitors at the show, which returns this week after a four-year hiatus due to the COVID-19 pandemic, shows "they are interested in our market, in our customers," Renault CEO Luca de Meo told Reuters.