Paying tribute to the legendary “5”, Renault has shown a willingness to bring electric cars closer to a wide range of European customers. This is exactly the role of the compact city car Renault 5 EV, which will be premiered in February 2024.
The car was first presented as a prototype at the 2021 Munich Motor Show, when it was announced that it would go into production in 2024. “I know from experience that reinventing a cult product lights a fire under the whole brand. This is a cult vehicle at a price many can afford. And this is only the beginning for the whole Renault brand,” said Renault CEO Luca de Meo.
It all started back in 1972 when Renault introduced the first Renault 5 model. The task of the engineers was to develop a car that would cover the space created between the 4 and the Citroen 2CV. The car was the best-selling model in France until 1980 when Renault expanded its offering in this class.
The car will be built on the CMF-BEV platform for small electric cars, making the Renault 5 a car at an affordable price (around 25,000 euros). It will be produced in Renault’s ElectriCity factory complex, and the company announces that production costs will be 30% lower compared to the Zoe model, given that 70% of the platform components are identical to those used by the Clio and Captur models.
Renault 5 EV will have a retro design, and will be equipped with a 40 kWh battery developed by Envision AESC in Douai, with the same charging system as the Mégane. It will have a range of 400 kilometers.
Renault has announced that by 2031 it will launch seven new electric cars. It’s part of a long-term electrification plan, and the cars will be manufactured at the newly established electric vehicle and software company, Ampere.
It all started two years ago when Renault presented the all-electric Megane E-Tech, and soon the new fifth generation Renault Scenic E-Tech, the new Renault 5 EV and 4 EV, and the Renault Twingo EV will arrive on the market. The remaining two cars will be replacements for the Megane E-Tech and Scenic E-Tech. Currently, Renault’s factories have a production capacity of 400,000 vehicles per year, with the goal of increasing it to 620,000 vehicles per year by 2028. The goal is to reach 300,000 sold electric vehicles by 2025, and one million by 2031.
All cars will be built on new platforms, AmpR Small (CMF-BEV) and AmpR Medium (CMF-EV), and will be from the A, B and C segments. Expectations at Renault are high, primarily because research shows that subcompact and compact cars will represent 3/4 of the electric vehicle market by the end of the decade.
Also, the long-term goal of Renault’s recovery plan is to reduce production costs by 40% in the next five years, and the plan also foresees a reduction in battery production costs by 50%, electric motors by 25%, and lower platform production costs as well. Body production costs will be lower by 15%, and logistics costs by as much as 50 percent. In this way, Renault wants to achieve equality between electric models and those with ICE by the end of 2028.
Demand for Renault vehicles is on the rise, and according to data for the first eight months of 2023, sales increased by 22 percent, putting the French vehicle manufacturer in second place on the European market.
In 2023, Renault delivered 726,938 vehicles on the European market, and the most sold vehicles were from the C segment (190,535 vehicles), which is an increase of 36 percent. Individually, the highest demand was for the Austral (60,305 units) and Arkana/Conquest (59,542 units).
When it comes to the electric vehicle market, Renault delivered 200,000 units, of which hybrid vehicles recorded a growth of 48% percent compared to 2022. Fully electric cars (64,854 units) also recorded growth and the highest demand was for the Megane E-Tech (35,000 deliveries).
Globally, Renault sold a total of 1,128,885 vehicles by September 2023, which is 11% more than in the same period in 2022 (1,013,310). Also, in the third quarter, Renault delivered 356,747 vehicles, which is an increase of +11% compared to the same period last year.