Thursday, February 22, 2024
News Report Says Volkswagen, Renault in Talks to Build 20k Euro EV

Report Says Volkswagen, Renault in Talks to Build 20k Euro EV

Scramble for Cheaper EVs

  • Affordable EVs needed to compete with Chinese brands

  • VW already plans sub-25k euro EV next year


A German paper is reporting that Volkswagen is in talks with other automakers to help develop affordable EVs. Renault is one of the partners, according to Handelsblatt (via Auto News Europe).

Automakers in Europe are rushing to cut prices on electric cars to compete with cheap EVs from China on sale in that market. Volkswagen is looking to develop a 20,000 euro EV, and the paper says it is talking with Renault about how to do it.

The talks are still “at a very early stage,” said the report, citing people familiar with the matter. At this point, it said, they could come to nothing.

There is potential, though, for 200,000-250,000 units per year, according to the paper. That’s the target for the partners. VW said back in March that it was developing an electric it expected to sell for 25,000 euros in 2025 with a 450 km (WLTP) range.

Renault CEO Luca de Meo said last month that Renault was planning a next-gen Twingo hatch that was all-EV in 2026. That model is expected to sell for under 20,000 euros. That, along with de Meo’s prior tenure at VW, likely both play a part in the new talks.

 

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