Renault plans to develop a new electric Twingo aimed to compete against the growing competition from Chinese electric car manufacturers, with a price tag under 20,000 euros.

The Kickoff for the Project is Set for April According to Insider Information, with Production to Begin in Two Years at the Slovenian Plant in Novo Mesto - Where the Current Generation is Already Being Manufactured. Meanwhile, Renault is Looking for Cooperation Partners Among Other Automakers to Achieve Cost Benefits Through High Production Volumes.

Talks with Volkswagen Continue, Despite the Start of Prototype Development and Selection of Suppliers by Renault's Electric Car Subsidiary Ampere. VW Also Considering Launch of an Entry-Level Electric Car by 2027, Potentially in Collaboration with Other Manufacturers, with a Decision Due in the Coming Months.

The news caused an increase in Renault shares by 1.10 percent to 47.31 euros on the Paris market.