Mobility Portal, Spain
Date: June 3, 2024
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By Mobility Portal

New alliances: Renault might develop the new electric Twingo with a Chinese partner

After suspending negotiations with Volkswagen, Renault might manufacture the new Twingo with a Chinese engineering partner to improve development timelines and costs. Where will the vehicle be manufactured?

According to sources, Renault will develop the new electric Twingo in partnership with a Chinese firm, though the name of the company they will collaborate with has not yet been disclosed.

This model is scheduled to go on sale in 2026 for less than 20,000 euros.

“We are open to talking with any manufacturer who can develop the vehicle more efficiently,” group sources told Europa Press.

“The development of the car will be done with a Chinese engineering partner to improve our development timelines and costs. The project is led by Ampere. Styling and advanced engineering are being carried out in France, and production will take place in Europe, as planned,” a company spokesperson told Reuters.

It is worth mentioning that Renault’s shares fell by 1.22 per cent on Friday the 31st on the Paris Stock Exchange, to 53.32 euros per share, despite having increased the firm’s market capitalisation by more than 42 per cent since the beginning of the year.

On that same Friday, Renault and the Chinese firm Geely formalised the creation of a new subsidiary – equally owned by both manufacturers – Horse Powertrain Limited, the new combustion engine subsidiary which will have its headquarters in London.

This new joint venture anticipates an annual turnover of 15 billion euros and a production of five million powertrain units.

The company’s complementary product portfolio and regional presence aim to offer solutions for 80 per cent of a growing global powertrain market.

This new firm will supply numerous industrial clients, including Renault Group, Geely Auto, Volvo Cars, Proton, Nissan, and Mitsubishi Motors Company, with the goal of continuing to expand the client portfolio worldwide to “strengthen the value chain.”

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