Renault Looks To Choose Twingo EV Partner By Early 2024: Report
Portfolio Pulse from Shivani Kumaresan
Renault SA is in talks with potential partners, including Volkswagen AG, to develop the new Twingo electric vehicle (EV), aiming to finalize a partner by early 2024. Renault's finance chief highlighted the goal of democratizing the EV market with the Twingo EV 'Legend', priced under €20,000. The average retail price of an EV in Europe is significantly higher than in China, as reported by JATO Dynamics. Renault's shares (RNLSY) saw a slight decline of 0.45% to $8.11.
December 11, 2023 | 5:01 pm
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NEGATIVE IMPACT
Renault SA is in partnership talks for its Twingo EV, aiming to make EVs more affordable. Shares dipped slightly by 0.45%.
The news of Renault seeking a partnership for the Twingo EV indicates a strategic move to expand in the EV market. The slight dip in shares may be a short-term reaction to the news, but the company's strategy to democratize the EV market could have positive long-term effects.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Volkswagen AG is in discussions with Renault SA to potentially partner on the new Twingo EV.
Volkswagen's potential partnership with Renault on the Twingo EV could strengthen its position in the affordable EV segment. This news could be viewed positively by investors, as it shows Volkswagen's proactive approach in expanding its EV lineup.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80