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VW and Renault End Talks To Develop Affordable EV
Volkswagen has walked away from talks with Renault to jointly develop an affordable electric version of the Twingo car, Reuters reported Friday, citing sources familiar with the situation, in a setback for the EU carmakers' efforts to fend off Chinese rivals. From the report: The collapse of negotia...
Volkswagen has walked away from talks with Renault to jointly develop an affordable electric version of the Twingo car, Reuters reported Friday, citing sources familiar with the situation, in a setback for the EU carmakers' efforts to fend off Chinese rivals. Both had hoped that sharing the work would cut costs that represent a key hurdle for European carmakers in the face of cheaper cars from China. Volkswagen broke off discussions mainly because Renault had wanted to build the car in one of its plants at a time when VW is seeking to fully utilise its European production network, one of the sources said.
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