(Paris) Renault announced on Wednesday the upcoming launch of a new electric Twingo for less than 20,000 euros ($30,000), excluding subsidies, joining Citroën in the race for entry-level electric vehicles.
This small urban car will be launched in Europe in 2026, positioning itself in the smallest of the automobile segments, where the electric offer is limited, Renault indicated. A month ago, Citroën announced an ë-C3 for 23,300 euros ($34,500), promising a version for 19,990 euros ($29,600) in early 2025.
On the occasion of the official launch of its new subsidiary, Ampere, Renault unveiled a first prototype of this new Twingo on Wednesday. With its round headlights and plump stern, it takes on the lines of the frog launched in 1993 and sold more than 2.5 million copies since.
A rental offer is planned for less than 100 euros ($150) per month, falling within the framework of “social leasing” desired by the French government, Renault added.
The new electric Twingo would thus be developed in less than three years.
Equipped with a small battery, with a reduced range and not yet announced, it promises very low consumption, at 10 kWh/100 km, almost half as much as most electric vehicles. It also promises -75% CO2 emissions over its life cycle compared to the average of current thermal vehicles.
The new Twingo will be manufactured in Europe, but not in France: the current Twingos, at the end of their career, are assembled in the Novo Mesto factory, in Slovenia.
Ampere, Renault’s new subsidiary, will offer a total of seven models by 2031: the Mégane, Scenic, electric R5 and R4, the Twingo, and two additional models.
The selling price of mid-segment models, Mégane and Scenic, will be on par with thermal vehicles by 2027/2028 “while preserving margins”, underlined Renault.
Ampere is targeting a turnover of 10 billion euros in 2025, compared to 46 billion for the Renault group in 2022. The objective is 25 billion euros in 2031 with seven vehicles, an annual growth rate of more by 30% between 2023 and 2031.
“What we want is to democratize electric vehicles in Europe,” emphasized Renault financial director Thierry Piéton during a press conference. “We are going to reduce our costs significantly to reduce prices, while improving the margin.”
Renault, which postponed the launch of Ampere on the stock market until the first half of 2024, awaiting more favorable conditions, promises investors a lighter and more profitable structure.
“Compared to a Chinese “pure player” entering the market, Ampere will benefit from the group’s ecosystem,” underlined Thierry Piéton. “We only put into Ampere what is strictly necessary.”
The subsidiary brings together more than 11,000 employees, a third of whom are engineers.