On paper, at least:
https://www.youtube.com/watch?v=R0XJFCTQdws

Elon Musk said that the cost of producing the current European rocket
(Ariane V) would kill it as a commercial entity:
https://www.youtube.com/watch?v=aK6gZ55VT50
https://www.youtube.com/watch?v=cBIKOJRNJmI

Ariane 6 is scheduled to go into production in 2020:
https://www.youtube.com/watch?v=SDwZIGso-9E

By that time SpaceX will have long left it in the dust. The Falcon Heavy,
whose first launch is scheduled for six months from now, will easily surpass
it in payload: https://www.youtube.com/watch?v=4Ca6x4QbpoM

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