Renault Unveils First Alpine EV With Hopes of Wooing Investors [BNN Bloomberg (Canada)]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
group.renault.com/en/finance-2
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Source: BNN Bloomberg
The new A290 will be able to go 380 kilometers (236 miles) on a charge and sprint to 100 kmh in 6.4 seconds, Renault said Thursday. It's the first of seven fully electric models planned, including a crossover set for next year. Starting at €38,000 ($41,059), the car is a key piece of Chief Executive Officer Luca de Meo's goal for Alpine's revenue to exceed €8 billion by the end of the decade — an ambitious target for a brand that sold just 4,300 vehicles last year. The A290 will be produced in France based on a platform developed with EV and software unit Ampere, with deliveries starting at the end of this year. Renault is planning to take on new investors, possibly including China's Zhejiang Geely Holding Group Co., to bolster the brand. Meanwhile, Alpine has been in talks with AutoNation for a distribution deal in the US and is also looking to expand in China. While the talks with AutoNation are still ongoing, Alpine is also considering different partnerships for the US, the
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