- Renault will co-develop a new electric Twingo with a Chinese engineering partner.
- The French automaker is looking to fast-track development of the affordable EV, with a target price of under €20,000 ($21,715).
- The move is said to be unrelated to failed talks with VW over a similar partnership.
Following the breakdown of talks between Renault and Volkswagen, the French automaker has confirmed that it is developing a new EV with a Chinese partner. The news comes after Renault’s CEO confirmed that the brand is looking to create an inexpensive electric vehicle that would serve as the next generation of Twingo.
With slowing EV sales providing cause for concern among multiple automakers, the development of cheaper and more accessible electric cars is seen by many as one way to reinvigorate sales. In addition, many legacy carmakers are facing increased pressure from the entry of Chinese entities that can leverage advanced EV tech and strictly controlled supply chains to deliver a cheaper product.
Read: Euro Automakers Unite! Renault Boss Calls For Airbus-like EV Alliance To Fight China
Renault’s CEO, Luca de Meo, had previously urged European automakers to unite and form an Airbus-style conglomerate to manufacture affordable electric vehicles capable of competing with Chinese imports entering the continent.
However, in a new statement given to AutoNews, Renault will develop the car within China itself. Led by Ampere, Renault’s EV division, only the styling and advanced engineering of the new Twingo will take place in France. It’s said that Renault is looking to cut down on development lead time while it’s also pushing for a car that can be priced below €20,000 ($21,715). Production, however, will take place in Europe, likely at the company’s Slovenian plant that currently manufactures the Twingo.
Despite the timing, Renault says that the move to find a new partner is unrelated to the talks it had with its German counterparts earlier this year. Earlier this year, VW announced that it was going it alone, building an entry-level EV that will be priced from €20,000.
Meanwhile, Renualt’s partnership with the as-yet-unnamed Chinese engineering company has a double edge, too. By partnering with a China-based company, the French automaker is hopeful that they can learn how to move quickly on EV development, with China being a hot bed of fast-moving developments in the EV space.
