One of the biggest manufacturers in the world has said it is open to sharing technology with other carmakers to reduce the manufacturing costs of electric vehicles.
Speaking at a parliamentary hearing in Rome on Tuesday, Renault CEO Luca De Meo stated that the brand remains “fully open” to cooperation despite a recent failed attempt to work with Volkswagen.
The companies had been discussing the joint development of an affordable electric version of the Renault Twingo small car, but Volkswagen withdrew from talks after several months.
De Meo emphasised that sharing technologies, including platforms that can underpin multiple models, could be particularly beneficial for small cars and commercial vehicles.
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Renault confirmed that it was open to sharing technology with other manufacturers
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“These normally require huge investments for small margins,” Reuters reported.
The Renault chief executive noted last week during a joint appearance with Stellantis Chairman John Elkann that the company was not making money on some small cars.
He added that between 2015 and 2030, regulations will increase the cost of a medium-sized Renault-built car by 20 per cent and small cars by 40 per cent.
In a significant shift to its electric vehicle strategy, Mitsubishi Motors announced on Monday it would not proceed with its previously planned investment in Renault’s electric vehicle business Ampere.
The Japanese automaker had earlier committed to investing up to €200 million (£178million) in the venture but has now reversed this decision.
Despite the investment withdrawal, Mitsubishi confirmed it would continue to develop new cars based on Renault models.
“The company remains committed to exploring potential avenues for continued collaboration, including the potential OEM vehicles provided by Renault and Ampere,” Mitsubishi said in a statement.
Mitsubishi’s decision follows a similar move by Japan’s Nissan, which has also withdrawn its investment in Ampere in recent months.
Nissan’s withdrawal was reportedly to save money and fund a major restructuring plan within its own operations.
The back-to-back investment withdrawals from both Japanese automakers represent a significant shift in the funding structure for Renault’s electric vehicle division, though Renault appears unfazed by these developments.
A spokesperson for Ampere responded to the investment withdrawals by stating that the business is generating enough cash to support its development “without needing financing from minority shareholders.”
Data from the Society of Motor Manufacturers and Traders (SMMT) reports that Renault has sold just over 22,000 cars in the UK this year.
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Renault already has a number of electric vehicles on the UK market
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This is enough for 3.15 per cent of the UK’s total market share, and represents a 17.43 per cent increase compared to their sales in the previous year.
Renault sells a number of popular electric cars for the UK market, including the 5 E-Tech, R5 Turbo 3E, 4 E-Tech, Scenic E-Tech and Megane E-Tech, as well as the Master, Kangoo E-Tech and Trafic E-Tech vans for tradespeople.
