Renault unveils upcoming electric city car

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【Summary】Renault is teasing a new "affordable" electric city car to replace the Twingo. The car will be built in Slovenia and is expected to bridge the gap between the Renault 5 and the Dacia Spring, with a potential price of around €15,000 to €20,000. The new EV will serve as an entry point to Renault's EV lineup, and the company aims to go all-electric by 2030. Ampere, Renault's EV unit, plans to unveil the car during its investor day on November 15.

FutureCar Staff Nov 14, 2023 3:15 PM PT

Renault unveils upcoming electric city car

Renault is preparing to reveal a new affordable city electric car to replace the Twingo, as it gears up for its upcoming investor's day. The new EV will be unveiled by Renault's EV unit Ampere, as the company aims to reassure investors amidst a challenging market characterized by weak EV demands and strong Chinese competition, according to sources familiar with the matter.

The new urban EV, which is expected to be smaller than the planned relaunch of the R5 hatchback, will be manufactured at the Nono Mesto plant in Slovenia, where the Twingo is currently produced. This sets it apart from the Chinese-made Dacia Spring, potentially giving it an advantage in qualifying for strict EU incentive programs. The mysterious EV will be introduced in 2026 and will serve as an entry-level option in Ampere's EV lineup.

As for the price, it is speculated that the new EV will be priced around €20,000, possibly even approaching €15,000. This will bridge the gap between the already announced R5, expected to start at under €25,000, and the Dacia Spring, which is currently Renault Group's cheapest EV priced just above €15,000. The Twingo E-Tech starts around €20,000, and the upcoming downsized version of the electric Citroën C3 will also fall below the €20,000 mark in 2025. In terms of size, the new EV will be smaller than the 3.92-meter-long Renault 5 and is expected to offer a slight upgrade in terms of luxury compared to the Dacia Spring.

Ampere currently offers the Megane E-Tech and plans to introduce five more models by 2030. Renault is rapidly expanding its budget EV lineup with the upcoming Renault 5 and 4, in addition to the Scénic Vision. The company aims to become fully electric by 2030, and given the French government's 15% stake in Renault, it is crucial to keep its high-profile EV business within the country while relocating the combustion division outside of France.

Ampere's investor day is scheduled for November 15, and its CEO, Luca de Meo, who previously headed the Renault Group, has valued the new EV business unit at up to €10 billion ($10.47 billion). The company, with its three factories in northern France, aims to achieve a production capacity of 400,000 EVs initially, increasing to 600,000 in 2026, and ultimately reaching 1 million by 2031.