CHARGED UP
Major car brand to launch affordable EV supermini as part of newly formed electric side-company
The new model won't be available for a little while yet
A MAJOR car brand is reportedly set to launch an affordable supermini as part of a new EV venture as it establishes a new sub-company.
The European motoring giant is pushing towards a fossil fuel-free future with a budget all-electric city car.
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Renault is planning to produce the new model through its EV arm Ampere, according to .
The division was set up in November with the aim of producing a range of accessible electric cars that still carry the name badge of the iconic French brand.
Its Ampere name comes from the unit of electric current named for a French physicist, Andre-Marie Ampere, in 1881.
Sources claim that the brand will tomorrow announce its intention to produce an affordable supermini, retailing from around £20,000.
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The move is believed to be part of a wider effort to reassure investors ahead of Ampere being listed on the European stock market.
Ampere has already announced its intention to bring six new EVs into its range by 2030, including the new Renault 5 launching next year.
It is targeting 600,000 units by 2026 and a million by 2031, despite Renault only selling 50,000 units of its existing electric models last year.
The unnamed new model is thought to be key to these efforts, especially given the high initial costs of many EVs.
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Toyota and GM only recently announced they were cancelling a plan to co-produce affordable EVs over profitability concerns.
If Renault manages to produce a £20,000 model it would be available for around half the cost of a new Tesla, Polestar or BMW.
A decision has reportedly already been made over where it will be produced, with the company's Slovenia plant getting the nod.
However, even if all goes to plan, the new motor is not expected to be available for a little while, with an initial sale run in 2026 understood to be lined up.
Renault has been contacted for comment.
It comes after a motorist was left stunned when her van was fined despite being carried by a breakdown recovery truck.
Meanwhile, a classic Ferrari with just one owner in the last 38 years has sold for a record fee at auction.
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