(Bloomberg) -- Renault SA unwrapped the R4 E-Tech, a compact electric vehicle meant to help the automaker better compete with budget offerings from Chinese manufacturers led by BYD Co.
The model, expected to cost less than €35,000 ($38,252), debuted Monday at the Paris auto show. It’s a plug-in take on an economy car that helped the brand win over millions of drivers starting in the 1960s. The R4 will be assembled in Maubeuge, France, with its motor and battery sourced from plants nearby.
“It’s a big accomplishment, and allows us to put French flags everywhere in the car,” Bruno Vanel, head of product performance at Renault, said in an interview. Sales will start in the first half of next year.
Renault is introducing a range of affordable EVs to counter a demand slowdown sparked by subsidy cuts that pushed up the cost of owning a plug-in car. Chief Executive Officer Luca de Meo has been pushing locally made EVs to better compete with Chinese manufacturers expanding in the region.
Earlier this month, the European Union voted to boost tariffs on EVs imported from China to as high as 45%. French President Emmanuel Macron, who is scheduled to visit the Paris show Monday, late last year rejigged rules for EV subsidies to leave out most models made in the Asian country.
The R4 will have a driving range of 400 kilometers (249 miles) on a single charge and comes with tech including a bidirectional charger and a ChatGPT-powered digital assistant. It will be built on a platform shared with the smaller R5, a €25,000 EV that was unveiled in February.
“We tried to keep the spirit of the old R4 but adapted it to modern times,” Vanel said, adding that the new car is spacious enough for a family.
De Meo has plans for additional affordable EVs to complement Renault’s lineup. The brand expects to add an electric Twingo in 2026, at a price of around €20,000.
“It helps to be smaller and agile in today’s world,” the CEO said in an interview.
--With assistance from Joshua Gallu.
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