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Renault is working on an electric vehicle for Europe to sell for no more than 10,000 euros. The EV could be on sale within the next five years has declared Renault CEO Thierry Bolloré at the Frankfurt Motor Show. Renault has decades of experience in building electric cars like the small Zoe sedan and can use this expertise to make a low-cost electric vehicle feasible, Bolloré said. “Today we are already making profits with our electric cars, even with quite modest volumes in absolute terms. Projecting what will happen on the market, we have a clear estimate that we can make further gains with a low-cost electric vehicle, “Renault CEO said.
The short-term rental solutions will offer a ready-made market for a very affordable electric vehicle: «When you look at the new business model of shared mobility you need to have modern and appealing cars at a reasonable cost. Renault is making gains with its short-term rental plan in Madrid that brought 800 Zoe to the streets, “said Bolloré. Next year, Renault will start sales in China of the K-ZE, an electric version of the Kwid microcar for non-European markets. Prices for that model have not yet been announced but Renault executives declared last spring that they will be competitive with Chinese domestic models sold for less than 10,000 euros. Renault has not ruled out bringing the K-ZE to Europe if it is successful in China. «Not everyone can afford the price of electric vehicles on the market today. All work on high-end cars, but the key element is to have accessible electric mobility, “concluded Bolloré.
Zoe was the number 2 EV in sales for the first half of 2019 in Europe after the Tesla Model 3. Renault sold almost 24,000 Zoe in the first six months of the year while Tesla sold over 37,000 units of the Model 3. The next wave of Fully electric Renaults models are scheduled for 2022 when several new products will be introduced on a dedicated platform developed with Nissan Alliance partner.