Renault receives 400 million euros loan from EIB to develop the new Twingo

Article by Christian Andrei, on May 28, 2013

Renault received a 400 million euro ($517 million) loan from the European Investment Bank (EIB) and according to Automotive News it will use the money to finish developing the new Twingo minicar.

Set to be launched in 2014, the new Renault Twingo will share a rear-wheel-drive platform with the new Smart ForFour as part of an alliance between Smart's parent, Daimler, and Renault-Nissan.

An electric version of the Twingo will also be produced and will be inspired by the Twin’Z Concept.

The loan was received by Renault as part of EIB's support for environmentally friendly and affordable vehicles, as supporting innovation in the aut industry is one of their priorities.

EIB also added that the much of the money will be sued to develop lightweight materials for the design in order to reduce the vehicle’s weight and improve aeodynamics.

If you liked the article, share on:


Login or Create new account to add a comment!


Mitsubishi is now officially part of the Renault-Nissan alliance after Nissan took over the Japanese car company recently. We know a lot has been happening in the car industry, but...
by - October 24, 2016
Driving the newest 2017 BMW 5-Series (G30), Clive Owen (Closer, Children of Men) returns to his role as “The Driver”. In this latest installment, what initially starts as a simple...
by - October 24, 2016
Many had wished that a Lamborghini Huracán Superleggera would somehow make a surprise debut at the recently held Paris Motor Show. Sadly, not a single Lamborghini appeared anywhere in sight....
by - October 24, 2016
Aston Martin and Red Bull Racing teamed up for the first time in creating what looks like one of the most ferocious beasts in history. The British car manufacturer has...
by - October 24, 2016
German premium carmaker Audi is reportedly planning to buy back around 25,000 Audi Q7 SUVs powered by its 3.0-liter V6 TDI engine in the United States. The buyback should compensate...
by - October 24, 2016