Dacia will launch a small, affordable electric car manufactured in Europe, Renault CEO Luca de Meo announced on Thursday.
The budget brand of the Renault group will quickly develop this small electric car and offer it for "less than €18,000," said Luca de Meo.
Renault is betting heavily on another small model, the new Twingo, to popularise electric cars. Designed in China and manufactured in Slovenia, the Twingo is set to hit the market in 2025, priced at less than €20,000 (excluding subsidies).
It is also expected to symbolise lower development costs for the group’s future cars, which, like the Twingo, must be designed in "less than 100 weeks" (23 months), De Meo highlighted while presenting the group’s financial results for 2024.
The small Dacia, in contrast, will be developed in less than 16 months, De Meo promised. "I challenge all our competitors to develop a car as quickly, even the Chinese manufacturers entering Europe," the Renault chief said.
As electric cars remain expensive, Dacia made a significant impact on the European market in 2021 with the launch of the small Spring, manufactured in China and positioned as the market’s cheapest battery model with limited range.
However, the Spring’s Chinese origins now work against it due to increased European tariffs and the removal of French purchase bonuses for Chinese cars.
On Thursday, the Renault group reported its results for 2024, confirming the success of its new range of cars with a revenue increase of 7.4% in 2024, reaching €56.2 billion, and a record operating margin.
