Renault-Nissan Looking To Introduce Sub-$8,000 EV In China

After finishing the acquisition of a 34 percent stake in Mitsubishi Motors, the Renault-Nissan Alliance is focusing on a low-cost electric car program aimed at the Chinese market.

The announcement was made by the head of the three brands, Carlos Ghosn, who spoke at the NewYorkTimes 'Energy For Tomorrow' conference in Paris, according to AutomotiveNewsEurope, stating that the goal is $8,000 or less, after incentives.

"What we want to do is bring a $7,000-$8,000 electric car without incentives. If we are able to make this kind of breakthrough, it's going to change the game", Ghosn said.

Driven by the local government, which announced its intention of having five million electric and plug-in hybrid vehicles on the road by 2020, Renault-Nissan's decision to offer a cheap EV in China has been influenced by the poor sales of the Nissan Leaf as well, which is known as the Venucia e30 in the People's Republic. Priced at 242,800 yuan, which equals to $36,900 at the current exchange rates, the vehicle was sold in just 1,273 units last year.