French automaker Renault is planning to launch a new low-priced electric car as it aims to penetrate the mass market segment, Drive reports. This upcoming EV will apparently cost €20,000 ($AU32,500) model due on sale in 2027.
Renault CEO Luca de Meo apparently disclosed initial details about the planned budget-friendly EV at the recent Financial Times Future of the Car summit in London. The report indicated Renault’s new mass-market EV would compete with a similar model from Volkswagen.
What is currently known about Renault’s new model?
Considering its significantly lower price, CEO de Meo claims that the planned Renault model will boost EV sales within the mass market segment in Europe.
“It is one of the things that will enable democratisation of electric vehicles.”
Renault CEO Luca de Meo
CEO de Meo further disclosed that the new entry-level EV is “Kei” car inspired, which are known as Japanese market “city cars.” Notably, current government regulations limit these vehicles’ size and power.
“I like the idea of translating into European language the concept of Kei cars in Japan. I think that there is some intelligence in that kind of concept, because it is not only a product issue. It is product-plus-regulation to enable efficient and low-impact human mobility.”
Renault CEO Luca de Meo
He further revealed that the new Renault model would place below the impending redesigned Renault 5 hatch. In essence, the low-priced EV will be built on a scaled-down version of that vehicle’s CMF-BEV EV platform.
CEO De Meo, who is also the European Automobile Manufacturers’ Association president, discussed the necessity for accessible battery electric cars as a way to safeguard the right to personal mobility.
“We are fighting against some of the things that we don’t consider right for the industry.
But on the other side, we’re totally aware that we also have to bring solutions to the problems. I think that being able to produce a sub-A segment car, at a low impact, is probably one of the solutions that the European industry can bring.”
Renault CEO Luca de Meo
See Also:
- Renault to employ software architecture on par with Tesla by 2026
- Renault to officially launch the Megane E-Tech in Australia in 2023
- “This is destroying value for the customer,” Renault CEO says of Tesla’s pricing strategy
- Nissan to invest 15% in Renault’s Ampere under their restructured partnership
- Nissan and Renaults reworking on partnership deal
The industry would really need affordable options to further boost the EV uptake. Renault’s new electric model will offer mass-market customers a budget-priced EV, making the technology more accessible.
