- Reuters
Renault's Ampere starts development of new electric Twingo, sources say
Renault will start engineering work on a more affordable version of its electric Twingo model this month, two sources told Reuters, with production targeted in two years as it seeks to stave off intense competition from Chinese rivals. China's automakers, the world's top producers of electric vehicles, are making fast inroads in the European market, pressuring incumbents like Renault to cut costs and speed up the time it takes to bring a new model to market. The "freeze concept" for Renault's new electric Twingo, where the vehicle's outline is validated and set, took place last week, said the two sources familiar with the matter.
- Bloomberg
French and Italian Inflation Keep ECB on Path to Lower Rates
(Bloomberg) -- French inflation eased below 3% for the first time in 2 1/2 years and Italy reported a lower-than-expected reading, confirming a trend that has tipped the European Central Bank toward cutting interest rates.Most Read from BloombergErdogan Suffers Historic Loss in Turkey Municipal ElectionsUS Oil Suppliers Muscling Into OPEC+ Markets All Over the WorldChina Factory Activity Expands for First Time in Six MonthsAT&T Says Data From 73 Million Accounts Leaked on Dark WebBillions Flood
- Reuters
Renault to invest $320 million, hire 550 workers to make electric vans in Northern France
French car maker Renault plans to invest 300 million euros ($323.25 million) in its assembly plant located in Sandouville in northern France to make new-generation electric vans from 2026. The project to build a light van, designed in particular for last-mile delivery of parcels, is part of Renault's electric vehicle unit Flexis, a joint venture with Sweden's Volvo and French shipping and logistics giant CMA CGM. In March, Renault and Volvo obtained the necessary regulatory approval to officially launch the joint venture in which CMA CGM Group has confirmed its interest to invest up to 120 million euros, Renault said.
