A Typical Low-Cost, China-Only Electric Car - The Roewe E50

A Typical Low-Cost, China-Only Electric Car - The Roewe E50

Renault has officially confirmed, via a spokesman for the automaker, that it's working on a budget-friendly electric car for release in China.

How budget-friendly, you ask? How does $8,000 USD sound?

The goal is to develop one of the world's cheapest electric cars that's still highway capable. The car won't be sold outside of China and no specific production date has been set as of yet, but Renault seems dead set on getting this very affordable EV out there.

The spokesman stated:

“Renault is using its extensive EV know-how to develop an inexpensive electric model aimed at the rapidly expanding Chinese sector.”

“We are at a turning point where EVs are becoming a viable option to more and more drivers. If we get it right, this could improve the quality of daily life for billions of people.”

If Renault gets it right, then theoretically the sky is just about the limit in terms of sales in China were growth in the EV segment has been nothing short of amazing (from hardly any sales in 2011 to over 300,000 logged this year through November).

Renault-Nissan CEO Carls Ghosn added:

“Studies show EVs will account for two-thirds of all cars on the road by 2030 in the most densely populated, high income cities. The rapidly declining cost of batteries, improving driving range and an expanding charging infrastructure are all factors."

Source: Autocar