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Renault has announced it will collaborate with a Chinese engineering company to develop a electric vehicle named “Twingo” with a price under €20,000 (approximately $21,676 US), as European automakers are targeting smaller, cheaper electric vehicles to compete with their Chinese counterparts.

Earlier this month, Renault ended joint development negotiations with Germany’s Volkswagen on an economical electric vehicle Twingo. Renault stated that its decision to choose a Chinese partner for the sub-€20,000 version of the Twingo is unrelated to the end of previous negotiation with Volkswagen.

European automakers are working to produce small electric vehicles priced under €20,000 (approximately $21,572) to help them compete with Chinese brands like BYD.

As competition in the global electric vehicle market intensifies, Renault’s strategic move demonstrates its keen insight into market changes and its ability to respond swiftly. By closely collaborating with a Chinese partner, Renault aims to enhance both cost efficiency and market competitiveness while maintaining product quality.

Source: WeChat Official Account—EV GOVERSEAS

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