Renault will reveal the launch of an additional "affordable" city electric car during this week's capital markets day for its new EV unit Ampere, three sources familiar with the matter told Reuters.
The move is part of the automaker's efforts to reassure investors and push ahead with the stock market listing of its EV business, which has been complicated by weak demand for EVs and increased Chinese competition.
The Renault-branded vehicle, which will be smaller than the planned relaunched version of cult R5 hatchback, is expected to be built at the Novo Mesto plant in Slovenia, two of the sources said. The factory builds Renault's Twingo combustion engine city car.
Ampere has said it plans to bring six EV models to the market by 2030. The new model is scheduled to go on sale in 2026, one of the sources said.