Renault has been asked a lot regarding a budget electric vehicle for European market. According to their CEO Thierry Bolloré, this highly anticipated affordable EV could be on sale within next five years and said to have a shocking price tag of €10,000. He said that Renault is capable of delivering a low-cost electric car to Europeans. It is because they have decade of experience of building EVs like Zoe supermini. In an interview to Autonews Europe at the Frankfurt Motor Show, Bolloré said that not everyone can afford price of electric vehicles on the market. He added that everyone is working on high-end cars, but key element is that they need to have accessible electric mobility.
This is huge statement by a key member of Renault at the 2019 IAA, but it needs to be seen how they are going to deliver a truly affordable EV to the masses. Another interesting fact that is Volkswagen said the same thing about new ID.3 electric compact hatch. However, the pricing of the model is estimated to start under €30,000 in Germany. Thus, it makes it three times more expensive than the said budget Renault EV. Bolloré said that they are already making money from electric cars. They estimate that Renault can still make money judging by what’s going on in the market.
Renault already has a budget model in China which is called City K-ZE, which is an electric version of Kwid small crossover. They might bring it to Europe provided that it turns to be hit in China. Renault City K-ZE will go on sale from Tuesday and has a string price of RMB 61,800 ($8,700). Since, it would be a European version, certain investment for homologation would be needed that could increase the price to around $11,000. City K-ZE comes with 26.8 kWh lithium-ion battery that powers the electric motor which is rated at 43hp and 125 Nm of torque. Range is claimed to be 168 miles on NEDC cycle.