Renault is set to make waves in the electric vehicle (EV) market as it announces plans to introduce an additional “affordable” city electric car. This revelation is scheduled to unfold during the capital markets day for Renault’s new EV unit, Ampere, in an effort to boost investor confidence and navigate the complexities of the EV market.
Renault’s Forward Leap in EV Strategy
This strategic move comes in response to challenges posed by weak demand for EVs and heightened competition in the Chinese market. Renault aims to reassure investors and pave the way for the stock market listing of its EV business.
The upcoming Renault-branded electric vehicle, smaller than the planned relaunch of the iconic R5 hatchback, is expected to be manufactured at the Novo Mesto plant in Slovenia. This facility is known for producing Renault’s Twingo combustion engine city car, showcasing the automaker’s commitment to incorporating electric options into its existing production infrastructure.
Ampere, Renault’s dedicated EV unit, has outlined ambitious plans to bring six electric vehicle models to the market by 2030. The newly announced model is slated to go on sale in 2026, aligning with the broader timeline of Ampere’s electrification goals.
Ampere’s Growth Targets
Ampere sets ambitious targets, aiming to produce 600,000 electric vehicles in 2026 and reaching the milestone of one million by 2031. This reflects the unit’s commitment to contributing significantly to Renault’s overall EV production.
Renault’s electric vehicle portfolio currently includes just under 50,000 electric Megane and Kangoo vehicles, representing its existing models. The company anticipates further expansion with the arrival of electrified Scenic and R5 models in 2024, followed by the introduction of the R4 in 2025.
Renault’s EV Journey
Once a pioneer in the first-generation electric vehicle market alongside long-time ally Nissan, Renault has faced challenges in recent years, falling behind competitors like Tesla and Asian manufacturers. The global race for environmentally friendly vehicles has intensified, prompting Renault to reposition itself.
The separation of Ampere from the rest of Renault and its planned market listing in the spring of the coming year are integral components of Renault’s broader turnaround strategy. This move signifies a renewed focus on innovation and market leadership in the evolving landscape of electric mobility.
Renault’s investor day, scheduled for Wednesday, will provide a comprehensive look at the automaker’s plans, strategies, and vision for the future as it continues to make significant strides in the electric vehicle sector. The unveiling of the affordable city electric car is poised to be a key highlight, signaling Renault’s commitment to shaping the future of mobility.
