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Renault SA\u2019s electric R5 E-Tech city car is betting on price and tech offerings like a digital voice assistant in the fight for Europe\u2019s mass market<\/a> as Chinese competitors move in<\/a>.<\/p>\n Priced from about \u20ac25,000 ($27,100), the Renault 5 E-Tech is the first car to roll off the carmaker\u2019s new EV platform that aims to cut costs and attract consumers balking at high prices. The new version of the 1970s boxy classic is set to deliver an initial 400 kilometers (249 miles) of driving range on a single charge.<\/p>\n Starting deliveries in September, the R5 is going up against the \u20ac23,300 electric Citro\u00ebn \u00eb-C3 that\u2019s made by rival Stellantis NV. The vehicle is a key step in Chief Executive Officer Luca de Meo\u2019s ongoing overhaul of Renault, which has seen the company reduce cumbersome ties with partner Nissan Motor Co. and carve out its combustion-engine vehicle business.<\/p>\n Aside from price and software, the company has added flourishes like a baguette basket to the R5 E-Tech, with assembly and battery production in France. There\u2019s a range of bright colors, some with sparkle effect.<\/p>\n \u201cReviving this legend is De Meo\u2019s most important launch to date,\u201d said Pierre-Olivier Essig, an analyst at AIR Capital in London. \u201cIt\u2019s one small step for Renault, but a giant leap for the car industry \u2014 one model that could finally convince consumers to go electric in a big way.\u201d<\/p>\n The new EV technology has already helped reduce the model\u2019s development time by a quarter. De Meo is also in talks with potential partners such as Volkswagen AG to cooperate on the underpinnings to further reduce outlays as the industry seeks to hold its ground against the likes of BYD Inc. and a\u00a0price war<\/a>\u00a0kicked off by rival Tesla Inc.<\/p>\n For the R5, whose batteries will be made in France as of the middle of next year, 85% of the car will be recyclable, while its batteries can be repaired. It also features bi-directional charging to feed electricity back into the grid. Such measures may help to lower\u00a0the cost of running the vehicle<\/a>, with EVs so far falling short of expectations they\u2019d be cheaper to run. \u00a0<\/p>\n The EV transition\u00a0has stumbled\u00a0<\/a>in recent months after some governments like Germany revoked buying incentives and vehicle prices remain high, contributing to Renault\u2019s decision to\u00a0shelve<\/a>\u00a0a planned initial public offering of its Ampere EV arm. France\u00a0has sought<\/a>\u00a0to make the costly cars available to low-income households, offering leases for \u20ac150 a month or less.\u00a0<\/p>\n The new R5 is \u201cat the heart of the battle to reinvent the European industry against competition coming from the east and the west,\u201d de Meo said in a statement.<\/p>\n<\/div>\n\nSubscribe to the new Fortune CEO Weekly Europe newsletter to get corner office insights on the biggest business stories in Europe. Sign up<\/a> for free.<\/div>\n<\/div>\n