Renault to Develop Economy Electric Car in China with Chinese Partner

TapTechNews May 31st, according to people familiar with the matter quoted by Bloomberg, Renault will develop most of the economy electric cars Twingo in China with a price of less than 20,000 euros (TapTechNews note: currently about 157,000 Chinese yuan). This is one of the company's measures to accelerate the introduction of economy cars to the market.

Specifically, Renault plans to cooperate with a Chinese company to develop this new car and will start selling it in 2026.

The above news was later confirmed by Renault. A company spokeswoman said, The development of this car will be jointly completed with Chinese partners in order to improve our development cycle and costs. The work such as styling design and advanced engineering design will still be completed in France.

According to the views of informed people quoted in the report, Renault chose to cooperate with Chinese counterparts in order to teach the company how to develop electric cars faster. As the local economic growth slows down and the reduction of subsidies has an impact on the demand for electric cars, European automakers are facing the pressure of refreshing products and lineups. At the same time, Chinese brands are expanding in this region and launching cheaper models. BYD company plans to launch a new car Seagull with a price of less than 20,000 euros next year.

Renault CEO Luca de Meo said at the shareholders' meeting this month that the development of the Twingo project is progressing rapidly.