Renault hints at upcoming budget-friendly electric urban vehicle

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【Summary】Renault is teasing a new affordable electric city car to replace the Twingo, set to be unveiled by its EV unit Ampere. The car will be smaller than the planned relaunch of the R5 hatchback and will be built in Slovenia. It is expected to bridge the gap in price between the R5 and the Dacia Spring, potentially priced around €20,000. Ampere aims to add five more models by 2030 as Renault moves towards becoming all-electric by 2030.

FutureCar Staff Nov 14, 2023 10:15 PM PT

Renault hints at upcoming budget-friendly electric urban vehicle

Renault is preparing to reveal an affordable city electric car to replace the Twingo, as it gears up for its investor's day tomorrow. The new urban EV will be unveiled by Renault's EV unit Ampere this week, as the company seeks to reassure investors ahead of its IPO. The car will be smaller than the planned relaunch of the R5 hatchback and will be built at the Nono Mesto plant in Slovenia, where the Twingo is currently manufactured.

The new EV will serve as an entry point to Ampere's EV lineup and is expected to be priced around €20,000, potentially even closer to €15,000. This will bridge the gap between the R5, which will debut in 2024 with a starting price under €25,000, and the Dacia Spring, which is currently Renault Group's cheapest EV priced just over €15,000. The new EV will be smaller than the Renault 5 and will likely offer a slight upgrade in luxury compared to the Dacia Spring.

Ampere currently offers the Megane E-Tech and plans to add five more models by 2030. Renault is moving quickly to expand its budget electric vehicle offerings, with the Renault 5 and 4 set to launch soon, in addition to the Scénic Vision. The company aims to become fully electric by 2030, with the French government's 15% stake in the company making it crucial to keep its high-profile EV business in the country.

The investor day for Ampere is scheduled for November 15, with CEO Luca de Meo valuing the new EV business unit at up to €10 billion ($10.47 billion). The company plans to start with a production capacity of 400,000 EVs, which will increase to 600,000 in 2026 and ultimately reach 1 million in 2031.