Renault is actively seeking a partner to collaborate on the development of its upcoming Twingo electric vehicle (EV), aiming to finalize the decision by early next year, according to sources familiar with the matter. Volkswagen is reportedly among the contenders for this partnership.
While Renault has confirmed discussions with various automakers regarding a potential collaboration, no specific details or timelines have been disclosed. Volkswagen, in response to inquiries, chose not to comment on the ongoing talks.
The French automaker recently unveiled plans for the Twingo EV, named Legend, positioned to be priced below 20,000 euros ($21,500). Thierry Pieton, Renault's finance chief, emphasized the company's goal to make electric vehicles more accessible and broaden their market appeal.
Conversely, Volkswagen announced details about an upcoming all-electric vehicle priced at 25,000 euros, scheduled for a 2025 launch. Additionally, reports suggest that Volkswagen is engaged in discussions with Renault about potential cooperation on a 20,000 euro electric vehicle, aligning with the industry trend toward more affordable EV options.
Renault is reportedly keen on making a decision on its collaboration partner by the end of the current year. This move comes as both automakers, like many others in the industry, strive to produce electric vehicles with more budget-friendly price points.
Notably, as of the first half of 2023, the average retail price for an electric vehicle in Europe exceeded 65,000 euros, according to research firm JATO Dynamics, highlighting the potential impact of Renault's and Volkswagen's efforts to make EVs more affordable.