The Renault Twingo is returning as a new budget electric car that will help “democratise” EVs as part of the group’s new EV arm.

The retro-inspired Twingo EV will land in 2026, with prices starting at under €20,000 (around £17k)

Revealed in concept form at the first Ampere Capital Markets Day, the retro-inspired EV will launch in 2026, with prices starting at under €20,000 (around £17k).

The “game changer” will offer high efficiency figures while its lifetime emissions will be around 75% lower than the “average European ICE car” sold in 2023.

It’s one of seven Renault EVs due by 2031, also including the reborn Renault 5, the Renault 4, Megane E-Tech, Scenic E-Tech and two additional vehicles.

These will be produced by Ampere, a new EV and software business unit announced in the latest prong of the Renaulution plan and officially carved out from Renault as of 1 November 2023 “to tackle the most important challenges of the automotive industry’s transformation”.

The new division designs, engineers, manufactures and markets electric passenger cars under the Renault brand in Europe and is lined up for an IPO in 2024.

It’s founded on the premise of EV-native platforms, industrial ecosystem (EV & software value chains and manufacturing footprint) and an appealing product line-up.

Luca de Meo, CEO of Renault Group, said: “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 centralised electronic architecture, an advanced Android-based software suite, and the most compact and efficient supply and manufacturing EV ecosystem, all created in Europe.”

Ampere says it’s aiming for its EVs to reach ICE price parity ahead of the competition, supported by a clear roadmap to slash EV costs by 40% by 2027/2028.

The new division is targeting sales of 300,000 vehicles in 2025, rising to one million in 2031 and with a market share of around 10%.

Luca de Meo: “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.

“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.”