Renault SA is making a significant move to elevate its Alpine sports-car brand by introducing its inaugural all-electric model, the A290, in a bid to appeal to potential investors and partners in the United States. Boasting a range of 380 kilometers (236 miles) on a single charge and accelerating from 0 to 100 kmh in 6.4 seconds, the A290 represents the first of seven planned fully electric models, with a crossover model slated for release next year.
Priced at a competitive starting point of €38,000 ($41,059), the A290 plays a crucial role in CEO Luca de Meo's ambitious objective to see Alpine's revenue surpass €8 billion by the decade's end, a lofty target for a brand that only sold 4,300 vehicles in the previous year. Production of the A290 will take place in France, utilizing a platform co-developed with the EV and software specialist Ampere, with the commencement of deliveries scheduled for the end of the current year.
Renault is actively seeking new investors, potentially including Zhejiang Geely Holding Group Co. from China, in a strategic move to fortify the Alpine brand. Concurrently, Alpine has initiated discussions with AutoNation for a potential distribution partnership in the lucrative US market, while also exploring avenues for expansion in China.
Although negotiations with AutoNation are ongoing, Alpine's CEO Philippe Krief revealed during a press conference that the brand is assessing various partnership opportunities in the US. However, in an environment where electric vehicle prices are decreasing and sales growth is tapering, attracting investors may pose a challenge. Earlier this year, Renault shelved plans to list Ampere, while Volkswagen AG deferred the search for external investors for its PowerCo battery unit.