French automaker Renault is open to providing technology to other carmakers to boost production of vehicles and help in reducing manufacturing costs, said CEO Luca De Meo. According to Reuters, the Renault boss, an Italian national, was speaking at a parliamentary hearing in Rome that Renault was not discouraged by its recent failed attempt to cooperate with Germany’s Volkswagen.
Renault opens door to tech collaboration
Renault has a history of collaborating with manufacturers like Mercedes and Fiat in specific market segments. Last year, the company initiated discussions with Volkswagen to jointly develop an affordable electric version of the Renault Twingo, a small city car. However, after several months of negotiations, Volkswagen, Europe’s largest automaker, decided to walk away from the talks. According to Reuters, the next-generation Twingo will now be developed independently by Renault. The Twingo EV is slated for a 2026 launch with a starting price below €20,000 (approximately $21,700).
Despite the setback, Renault’s willingness to explore partnerships highlights its strategic focus on cost-effective electric vehicle development and innovation in the competitive EV market. The move underscores ongoing efforts to expand affordable electric mobility options. Meo said, “We remain fully open.”
De Meo said that sharing technologies, including platforms, the architectures that can underpin several different models, could prove particularly useful in the areas of small cars and commercial vehicles. “These normally require huge investments for small margins,” he said.
Last week, in a joint appearance with Stellantis Chairman John Elkann, De Meo said Renault was not making money on some small cars, adding that between 2015 and 2030 regulations will increase the cost of a medium-sized Renault-built car by 20% and for small cars by 40%.
Renault plans in India
Renault Group has approached the Competition Commission of India (CCI) for approval to acquire the remaining 51% stake held by its Japanese partner Nissan in their Indian manufacturing joint venture, Renault Nissan Automotive India Pvt Ltd (RNAIPL). According to PTI, a notice was filed with the CCI on May 16, Renault Group B.V. and its nominee, Renault SAS, have proposed to purchase all equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares currently owned by Nissan Motor Company Ltd, Japan and Nissan Overseas Investments B.V. in RNAIPL. This move would give Renault full ownership of the Indian venture.