Renault to launch electric car costing less than €20,000

THE OVERALL PRICE COULD BE EVEN LESS AFTER GOVERNMENT GRANTS, AND WILL BE PART OF THE MANUFACTURER’S AIM TO ‘DEMOCRATISE’ ELECTRIC CARS BY 2031 Iconic French vehicle manufacturer Renault has

announced plans to launch an electric vehicle that will cost less than €20,000 - even before any government grants available to help with the purchase. The new model is set to be a compact

vehicle called ‘Legend’. It will be intended for use in urban environments and is set to launch after 2025, the manufacturer said. Made in Europe, the car is part of Renault’s aim to

‘democratise’ electric vehicles (make them available to everyone) and face up to Chinese and American competition. The company intends to create a €100 per month financing plan to facilitate

the availability of the vehicle, as part of the government’s ‘social leasing’ aims, which were announced by Prime Minister Elisabeth Borne in April. At the time, she said: “We are speaking

with French manufacturers so that they can sell electric cars at accessible prices.” READ MORE: FRANCE WANTS TO MAKE €100-A-MONTH ELECTRIC CARS A REALITY The models are also likely to be

eligible for the government’s funding help for electric vehicles. Available grants currently include the _bonus écologique_, worth 27% of the price of the car for buyers - up to a maximum

grant of €5,000; or 40% and up to €6,000 for a van. This will make the cost much cheaper than the current prices for electric vehicles. READ MORE: BUYING AN ELECTRIC CAR: WHAT FRENCH AIDS

ARE AVAILABLE TO HELP? READ MORE: WHY ELECTRIC VEHICLE INSURANCE PREMIUMS ARE SET TO RISE IN FRANCE Renault has also said that the Legend will consume 10kWh/100km, and will emit 75% fewer

emissions over the course of its life cycle in comparison to current combustion vehicles. AMPERE: RENAULT’S NEW ELECTRIC BRAND Renault also announced the official launch of its new electric

subsidiary, Ampere. This brand ‘offshoot’ is set to offer seven electric models by 2031, including an electric Mégane, Scenic, R5, and R4, as well as the new Legend, and two others. The

price of the electric Mégane and Scenic will be the same as their combustion counterparts by 2027-28, Renault said. Ampere is aiming for revenues of €10.8 billion in 2025 and €25 billion by

2031. > French carmaker Renault said its electric vehicles unit Ampere, > which it plans to list on the market next year, forecast $10.8 > billion in revenues in 2025, more than 

doubling to over $27 billion > in 2031 > Read more: https://t.co/L6ax9qt5VV pic.twitter.com/Vh6K3EadXk > — Reuters Business (@ReutersBiz) November 15, 2023 “What we want is to

democratise electric vehicles in Europe,” said Renault's Chief Financial Officer, Thierry Piéton, at a press conference. “We are going to cut our costs significantly to reduce prices,

while improving margins.” Ampere currently employs more than 11,000 people in France - of which a third are engineers - who design, develop and manufacture vehicles under the Renault brand.

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