Renault Open to Sharing Electric Vehicle Technology
Renault, one of the world’s largest car manufacturers, has expressed its willingness to share technology with other carmakers to make electric vehicles (EVs) more affordable. Speaking at a parliamentary hearing in Rome, Renault CEO Luca De Meo stated that the company remains ‘fully open’ to cooperation despite a recent failed attempt to collaborate with Volkswagen.
The companies had been discussing the joint development of an affordable electric version of the Renault Twingo small car, but Volkswagen withdrew from talks after several months. De Meo emphasized that sharing technologies, including platforms that can support multiple models, could be particularly beneficial for small cars and commercial vehicles. ‘These normally require huge investments for small margins,’ he noted.
De Meo had previously expressed concerns about the profitability of small cars. During a joint appearance with Stellantis Chairman John Elkann, he mentioned that between 2015 and 2030, regulations would increase the cost of a medium-sized Renault-built car by 20% and small cars by 40%.
In a related development, Mitsubishi Motors announced it would not proceed with its planned investment in Renault’s electric vehicle business Ampere. The Japanese automaker had committed to investing up to €200 million (£178 million) but has now reversed this decision. Despite this, Mitsubishi confirmed it would continue to develop new cars based on Renault models.
Renault appears unfazed by Mitsubishi’s withdrawal, with an Ampere spokesperson stating that the business is generating enough cash to support its development ‘without needing financing from minority shareholders.’
Renault has sold over 22,000 cars in the UK this year, accounting for 3.15% of the total market share, a 17.43% increase from the previous year. The company offers several popular electric cars in the UK market, including the 5 E-Tech, R5 Turbo 3E, and Megane E-Tech.
Impact on Electric Vehicle Market
The decision to share technology could significantly impact the EV market by reducing manufacturing costs and making electric vehicles more competitive with traditional petrol and diesel vehicles. This move aligns with the industry’s shift towards more affordable and sustainable transportation options.
