Renault confirms $21,000 EV in Chinese partnership that paves way for more cheap EVs out of French brand

After a deal to co-develop the upcoming Renault Twingo EV with VW fell through, Renault CEO, Luca de Meo, confirmed to Automotive News Europe that the diminutive electric car is still on the books. The French carmaker will instead turn to the very same Chinese EV companies it is hoping to compete with in order to develop its €20,000 (~$21,700) Twingo EV, although it has not specified which company it has partnered with for the affordable EV.

While the EV will developed in conjunction with a Chinese company, de Meo says that Renault will use the partnership as an opportunity to learn about the agility and efficiency needed to develop a cheap EV, and he mentions that the Twingo EV will be produced in Europe when it launches.

While the EV likely won't launch in the US, like every other Renault car, the partnership and Renault's intentions to learn how to cut EV development and production costs could conceivably result in cheaper EVs in the company's future line-up for the European and developing markets.

Currently, the EV market is hurtling towards a cheap EV, with everyone from Ford to Jeep racing to be first to the BYD-dominated market after Tesla cancelled its much-rumoured Model 2 project in recent months.