French carmaker Renault unveiled a more ambitious strategy for electric vehicles on Wednesday, betting on new, affordable versions of its iconic small cars of the past to catch up with Volkswagen in the fast-growing sector.
Renault Chief Executive Luca de Meo said it planned to launch 10 electric cars by 2025 and that all-electric vehicles would account for up to 90% of Renault models by 2030, dropping its reliance on hybrids to hit the target under a previous plan.
Renault is betting that an electric version of its classic Renault 5 compact car, which was discontinued in the 1990s, will capture the imagination of today’s drivers when it goes on sale in the first half of 2024.
At a live-streamed presentation on Wednesday, Reuters reported that the company offered a fleeting glimpse of its new electric “4ever”. Two sources close to the company said it was a revival of the Renault 4 hatchback which went out of production last century.