Popular brand to launch £17,000 electric car as it promises 'high-performance and competitive prices'

To mark Capital Markets Day, Renault aimed to “democratise electric vehicles”, making cars cheaper for drivers and helping people jump to electric.

As part of the announcement, a new brand – Ampere – was debuted, which is set to oversee electric car and software development.

This includes the “Legend” – or Twingo – which has been described as a “fit-for-purpose urban vehicle with no compromise”.

The electric vehicle will have 75 per cent lower CO2 emissions than the average European internal combustion engine car sold in 2023 over its lifecycle.

​In addition to zero tailpipe emissions and lower raw materials consumption, the European-made car is set to launch in 2026.

Renault stated that the car will be offered at an entry price below €20,000 (£17,521) before subsidies, which could cost less than €100 (£87) per month.

While the brand has not unveiled the range of the vehicle, it has been praised for its exceptional efficiency and fewer parts and resources.

Luca de Meo, CEO of Renault Group, highlighted the importance of the Ampere brand and its mission to make electric vehicles more accessible to all.

He added: “In the true spirit of Renault, Ampere is engineered to make electric and connected cars affordable for all, addressing the imperatives of energy transition and seizing the growth opportunities on the market.

“Ampere is first about striving for technological excellence and customer experience: two EV-native platforms, a powerful line-up of seven cars, a new generation of centralized electronic architecture, an advanced Android-based software suite, and the most compact and efficient supply and manufacturing EV ecosystem, all created in Europe.

“I’m more than confident that the success of Ampere relies on the expertise and enthusiasm of a highly diverse team that has proven extremely effective in the last two years of preparation.”

Other vehicles were announced including the £33,000 Megane E-Tech, a Scenic E-Tech with an impressive 625km (388 miles) range, a £21,000 Renault 5 and a “universal” Renault 4.

Ampere will have four vehicles on the market by 2025, with a target of €10billion (£8.7billion), followed by a total range of seven “competitive” vehicles by 2031.

This is one of the first steps of the “Renaulution”, with Ampere officially launching on November 1.

The company has 11,000 employees, with 35 per cent of these being engineers focusing on EVs and software technologies.

Thierry Piéton, chief financial officer of Renault Group, said: “With high-performance cars, competitive prices, a strong brand and high-quality services, Ampere is well positioned to catch the growth on the European EV market.

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“Thanks to its clear roadmap of 40 per cent cost reduction in one generation, Ampere will be able to gradually reduce vehicles’ prices while improving margins.”