Renault plans low-cost EV for Europe
Renault is working on an electric vehicle that would sell in Europe for no more than 10,000 euros. The EV could go on sale within the next five years, Renault Ceo Thierry Bolloré said at IAA in Frankfurt.
Renault has a decade of experience building electric cars such as the Zoe battery-powered small hatchback and can use that expertise to make a low-cost EV feasible, Bolloré said. «We are already making money with our electric cars today with quite modest volumes in absolute terms. By projecting what is going to happen in the market, we have a clear estimate that we can still make money with a low-priced EV» Renault Ceo said.
Short-term rental programs offered a ready market for a very affordable EV. «When you look at the new business model, which is shared mobility, you need to have very modern, appealing cars at a reasonable cost. Renault is making money on its short-term rental plan in Madrid, which has put 800 Zoes on the streets» Bolloré said.
Next year Renault will start China sales of the K-ZE, an electric version of the Kwid microcar for non-European markets. Prices for that model have not been announced but Renault officials said last spring that it would be competitive with similar domestic Chinese models, which sell for less than 10,000 euros. Renault has not ruled out bringing the K-ZE to Europe, if it is a success in China. «Not everyone can afford the price of the electric vehicles on the market today. Everyone's working on high-end cars, but the key element is that we need to have accessible electric mobility» Bolloré concluded.