Renault is making waves in the electric vehicle market with a bold promise: to deliver electric cars priced under 20,000 euros. This ambitious goal is driven by the adoption of LFP battery technology, which has been widely successful in China but initially overlooked in Europe.
According to Motorpasión, Renault is following Ford’s lead in utilizing lithium-iron phosphate (LFP) batteries. These batteries are gaining traction due to their safety, cost-effectiveness, and reduced reliance on rare minerals compared to traditional lithium-ion batteries.
European automakers initially dismissed LFP batteries because of their lower energy density and heavier weight. However, with Chinese companies such as BYD, MG, and Leapmotor flooding the European market with affordable LFP-powered vehicles, perceptions are changing. The stigma surrounding LFPs is rapidly disappearing.
Economical and Exciting LFP Cars
With the fluctuating prices of lithium and nickel, the benefits of LFP batteries, such as stability and cost efficiency, are becoming increasingly attractive. Renault’s pivot to LFP batteries is not just about matching Chinese technological advancements but also recognizing the economic advantages these batteries offer. Affordability remains the key obstacle to widespread EV adoption.
This strategy underpins Renault’s reintroduction of the R5 E-TECH and the upcoming Twingo model. It also aligns with the establishment of Renault’s Ampere brand in 2023, which aims to enhance software-defined vehicles and cut new EV production costs by 40%, parallel to the savings from LFP battery implementation.
“Creating a new model of company specializing in electric vehicles and software running as of today: How better to illustrate our revolution and the boldness of our teams?” Renault Group CEO Luca de Meo remarked during Ampere’s launch. He added, “Instill a sustainable corporate vision and ensure it is reflected in each and every process and product. Build on the Group’s strengths and review the way we do everything. Form a tight-knit team and work for the collective. Harness our French roots and become the leader in Europe. Assert our commitment to our customers, our planet and those living on it.”
Renault’s all-new electric Twingo, inspired by the 1990s minicar, is slated for release soon. Targeting the BYD Dolphin, it is expected to start at approximately €17,000, translating to just under $20,000 in the U.S.
SOURCE: Motorpasión; images via Renault.
Original Story at electrek.co