• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Uma Rajagopal

    Posted on April 2, 2024

    Featured image for article about Top Stories

    Renault’s Ampere starts development of new electric Twingo, sources say

    By Gilles Guillaume

    PARIS (Reuters) – Renault will start engineering work on a more affordable version of its electric Twingo model this month, two sources told Reuters, with production targeted in two years as it seeks to stave off intense competition from Chinese rivals.

    China’s automakers, the world’s top producers of electric vehicles, are making fast inroads in the European market, pressuring incumbents like Renault to cut costs and speed up the time it takes to bring a new model to market.

    Chinese EV makers have cut development time for new vehicles to an average of 2.5 years, around half the time automakers have traditionally needed.

    The “freeze concept” for Renault’s new electric Twingo, where the vehicle’s outline is validated and set, took place last week, said the two sources familiar with the matter.

    They declined to be identified because the process is confidential.

    Ampere, Renault’s EV unit, will now start choosing suppliers, creating prototypes and scaling production, one of the sources added.

    Renault has been working on slashing its development time from the five-year average for legacy carmakers. It developed the electric Megane in four years and the electric R5, to go on sale this year, in three years.

    To speed up the Twingo launch, engineers will trim the number of parts by 20%, using more generic components and favouring parts available at suppliers, Gilles Le Borgne, head of technology at Renault, told French newspaper Les Echos last month.

    A third source, also aware of Renault’s plans to mass produce the new Twingo in 2026, said the model would be assembled in Novo Mesto, Slovenia, where the current-generation electric Twingo ZE is produced.

    Renault declined to comment.

    More than 4 million Twingos, including both fossil fuel and electric versions, have been sold over the last 30 years.

    European automakers are aiming to produce smaller EVs that sell below 20,000 euros ($21,572) to help them compete with Chinese brands like BYD.

    Renault wants to partner with other automakers to further reduce costs and is in talks with Volkswagen about sharing the Twingo platform. Those talks will continue “in parallel” to work on the vehicle, which will not be affected by the outcome of the discussions, the first source said.

    In March, Volkswagen brand CEO Thomas Schaefer said the automaker was working on options for an entry-level EV for launch by 2027, including working with partners. A decision is expected in the coming months.

    ($1 = 0.9271 euros)

    (Reporting by Gilles Guillaume, writing by Nick Carey; Editing by Bernadette Baum)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe