Posts Tagged ‘French Strategic Investment Fund’

Renault to Make an Electric Vehicle In Spain

A version of the Twizy Z.E. concept will be made in Valladolid.

by on Nov.06, 2009

Another subsidized EV looking for customers?

Another subsidized EV looking for customers?

Renault will manufacture starting in 2011 an electric vehicle (EV) based on Twizy Z.E. concept at Valladolid, 150 km north west of Madrid.

The company says the EV is compact, nimble and practical, and will “fully meet all sustainable urban mobility needs.”

Technical details were not released.

The Valladolid plant was selected for its expertise and performance in compact car production. It currently produces Modus and Grand Modus and a some Clio models. Spain is central to the intended sales markets in Western Europe, where makers are counting on large taxpayer subsidies to make expensive EVs affordable and desirable.

The latest move toward electrification follows closely an announcement that the Renault-Nissan Alliance, the French Atomic Energy Commission (CEA) and the French Strategic Investment Fund (FSI) are establishing a joint venture company that would develop and manufacture batteries for electric vehicles, with the approval of Christian Estrosi, the French Minister for Industry.

The U.S. is alone among major economic powers in lacking a formal government industrial policy organization to create jobs and nurture industries.