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Renault Reevaluates EV Program
Renault SA tells Bloomberg News it has suspended plans for an electric version of its Twingo minicar because demand for EVs is much lower than the company expected.
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Renault SA tells Bloomberg News it has suspended plans for an electric version of its Twingo minicar because demand for EVs is much lower than the company expected.
Renault unveiled the Twingo EV at the Geneva auto show in March. But Chief Performance Office Jerome Stoll says the program is now on indefinite hold because most consumers don't yet feel a need to have an electric vehicle for normal daily use.
Renault already offers four electric models: the Twizy city car, Zoe five-door supermini, Fluence Z.E. compact sedan and Kangoo small delivery van. But Bloomberg says the company's combined EV sales last year totaled only 19,100 units.
Renault and alliance partner Nissan Motor Co. had expected to reach annual EV sales of 1.5 million units by 2016. But last autumn CEO Carlos Ghosn said the companies, which have sold roughly 125,000 EVs in the past five years, won't achieve that goal until at least 2020.
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