For its future electric Renault 5, the French manufacturer plans to use LFP cobalt-free batteries.
More economical to buy, LFP batteries will enable Renault to reach its price target. The future small Renault should be marketed in a range between 20,000 and 30,000 €, before deduction of any government aid.
The information comes directly from Renault CEO Luca de Meo during a speech to the media. The association of LFP batteries with the new CMF-B EV platform will make it possible to produce the future electric Renault 5 at a lower price. This strategy is ideal for attacking the heart of the market and mass selling the new Renault 5.
Cobalt-free technology at the service of price
According to Luca de Meo, the future small Renault will be marketed from € 20,000. If it is expected for 2023, its price positioning will make it particularly interesting. Thus, its price will be 30% lower than its main competitors, the Peugeot e-208 or its cousin Opel Corsa-e, whose prices currently start at € 30,000.
With such a price positioning, the electric Renault 5 will also tackle the market for conventional combustion vehicles head-on. This is how the CEO of Renault put it: “This will allow us to sell cars at the heart of the market in terms of budget, say 20,000 to 30,000 euros, and still make money.”
By integrating LFP (Lithium Iron Phosphate) batteries, Renault benefits from a less expensive battery. The price difference with an NMC (Nickel Manganese Cobalt) battery is linked to the absence of Cobalt in its composition. Also, the latter is particularly expensive to buy and puts a strain on the price of batteries. LFP technology is also less sensitive to thermal runaway.
The only real flaw with LFP batteries is their energy density. In addition, their performance is reduced at low temperatures. Thus, Renault will have to make a choice between less autonomy or greater weight. This last point will make it possible to compensate for a lower energy density than NMC batteries while also maintaining good autonomy.