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Automotive Industry
Renault aims to pick a partner for its new Twingo battery-electric vehicle by early next year, two sources close to the matter said, with Volkswagen among those in the running.
Renault confirmed that it is talks with several automakers as potential partners for the Twingo but declined to comment on names or timings.
Renault is talking with VW on partnering on the new Twingo, said three sources, who declined to be named because talks were ongoing.
One of the sources said Renault aims to make a decision on which automaker to partner with as early as this year.
German business paper Handelsblatt said VW is interested in using technology from the Twingo. VW declined to comment.
Last month Renault CEO Luca de Meo, a former VW Group executive, said the French automaker will launch the next-generation Twingo hatchback as a full-electric city car in 2026 with a price of less than €20,000.
Meanwhile VW in March laid out the details of an ID2all concept-based EV under development for €25,000, to launch by 2025. VW said at the time it was also working on a €20,000 vehicle but did not provide further information.
VW's smallest battery-electric car, the e-Up, went out of production earlier this year. The minicar was priced at just under €30,000.
European automakers are accelerating their plans to bring affordable electric cars to market in response to new entrants from China. The average retail price of an EV in Europe in the first half of 2023 was over €65,000, according to autos research firm JATO Dynamics, compared to just over €31,000 in China.