Renault and Nissan CEO Carlos Ghosn has hinted that Renault could be launching a cheap EV in China within the next two years.
Ghosn first told attendees at the New York Times Energy for Tomorrow conference in Paris that the company was aiming for a car that would cost $8,000 or less after Chinese incentives.
“If we are able to make this kind of breakthrough, it’s going to change the game,” he said.
That was on Nov. 3. On Tuesday, Ghosn revealed the timeline.
“I think our objective is to be on the market within in a couple of years,” Ghosn told CNBC at the Web Summit technology conference in Lisbon.
“We are at a price point where the sales are just not taking off,” Ghosn said regarding the company’s Nissan Leaf, which retails for around $30,000 to start, making it too expensive for China, in the company’s view. “So what we decided is go after the market … we are developing a very cheap electric car. Cheap means involving a price point where these cars are selling in China which is about $8,000.”
Government subsidies have helped Chinese sales of alternative-energy cars increase 162 percent year over year. Those subsidies are shrinking, however.
“What we are seeing that in China what is really selling are the very low-cost electric cars. This is where the market is moving,” Ghosn said.