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Renault to develop much of sub-US$21,o00 Twingo EV in China with unnamed partner

  • ‘The development of the car will be done with a Chinese partner to improve our development lead time and costs,’ Renault spokesperson says
  • Europe’s carmakers are under pressure to update their line-ups just as slow economic growth and waning subsidies weigh on EV demand

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Renault unveiled the Twingo EV during Renault Group capital market day for its new electric vehicle unit Ampere in Paris on November 15, 2023. Photo: Reuters
Bloomberg
Renault SA will develop much of its sub-€20,000 (US$21,700) Twingo electric vehicle (EV) in China, part of a push by the manufacturer to bring affordable electric vehicles to the market faster, according to people familiar with the situation.

The French carmaker plans to partner with a Chinese company on the battery-powered city car that is due to be sold from 2026, said the people, who asked not to be identified as the plans are not public.

“The development of the car will be done with a Chinese partner to improve our development lead time and costs,” a spokesperson for Renault said in a statement. “Styling and advanced engineering” will be done in France.

Europe’s carmakers are under pressure to update their line-ups just as slow economic growth and waning subsidies weigh on EV demand. Meanwhile, Chinese brands are expanding in the region with cheaper models. BYD plans to offer its Seagull hatchback already next year at a price below €20,000.

Renault’s move to partner with a Chinese peer is also meant to teach the company how to move more quickly on EV development, the people said. It is unrelated to a Volkswagen AG decision to develop a cheap EV on its own instead of potentially partnering with Renault’s software and EV unit Ampere, they said.

Stellantis NV plans to offer EVs co-developed with China’s Leapmotor in nine European countries starting in September. It will be introducing a cheaper version of its Citroën ë-C3 early next year.

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