French automaker Renault has just teased a new electric city car model that will sell for an “affordable” price, Reuters reports, citing three sources familiar with the matter.
The move is apparently part of the company’s efforts to uplift investors about the upcoming IPO amid market pressures and growing competition against Chinese brands.
What’s currently known about the new EV?
Renault will reportedly introduce the new all-electric urban model as part of its sub-brand Ampere. The report sources further revealed that the company will unveil the new model this week, which is said to supersede the Twingo. The reveal will coincide with Ampere’s Investor Day today, November 15.
According to CarWow, the new Ampere car will have a more compact body compared to the Renault 5 hatchback that will soon relaunch in the market. For context, the R5 has a length of 3.92 meters (154.3 inches).
It will reportedly undergo assembly at the existing Nono Mesto factory in Slovenia, which also held the production of the Twingo. This strategic production location will enable the EV to access the EU’s stringent incentive schemes.
The unnamed sources further asserted Renault’s plans to officially launch the new EV in 2026 for Ampere’s all-electric portfolio.
Expected pricing
Electrek expects the new model to have a base price of about €20,000, with a huge potential to hit the €15,000 threshold.
It will reportedly cross the gap between the anticipated €25,000 R5 that will launch next year and the €15,000 Dacia Spring, currently the Group’s most affordable model.
It is also worth noting that the Twingo E-Tech has a starting price of about €20,000, while the new Citroën C3 EV is expected to sell below €20,000 by 2025 for the downsized variant.
Electrification targets
The new EV is part of Ampere’s planned six new electric models before the end of the decade.
As of now, Ampere only sells the Renault Megane E-Tech. The Renault 5 is expected to arrive as early as next year before the launch of the new Renault 4 in 2025.
Renault aims to become an all-electric brand by 2030. It will not be surprising if the company gets to reach the 2030 targets, considering the major government support it receives. The French Government apparently owns a 15% stake in the automaker.
Launching new electric vehicle models will also aid the company’s target to hit a production output of 1 million units by 2031.
The mystery model will launch in 2026, as noted by one of the report sources. We can expect to learn more about the EV at the brand’s Investor Day on Wednesday.
