As part of its plan to expand its electric vehicle lineup, Renault hopes to make electric cars more affordable, and a number of new compact cars to be unveiled over the next couple of years will help lead the way.

During the online event ElectroPop, the French automaker outlined its vision to have 90% of its sales in Europe be fully electric by 2030. And leading the field in affordability is the new Renault 5, which is expected to hit European roads in 2023.

Renault is trying to make this compact car more wallet-friendly, aiming to price it 33% lower than the current electric Renault Zoe. That means it will sell for just over $26,000 in the UK and Europe. Renault also wants to bring back the Renault 4 model and build another budget electric car that will use the revived "4ever" badge.

The new models will be based on the new CMF-BEV and CMF-EV manufacturing platforms, which are specifically intended to give the Renault Group an already strong presence in the C and D segments. The advantage of the new CMF-BEV platform is its modular production approach, using components of the existing CMF-B platform currently in use. This will make it easier to mass produce Renault 5 and 4ever and share components, while keeping costs down.

Renault will offer a car with a maximum range of 250 miles (WLTP 400 km), powered by a 100 kW motor and utilizing interchangeable battery modules. However, models built on the CMF-EV platform, such as the C-segment Megane, scheduled for launch next year, and the Nissan Ariya, scheduled for launch in late 2021, will have a longer range. According to the automaker, 360 miles (580 km WLTP) is planned.

The new Renault 5 will be assembled in France and will have two types of batteries developed in-house to keep prices as low as possible.

Renault claims that it aims to reduce battery costs by 60% at the pack level over the next 10 years, to below $100/kWh by 2025. The Renault Group also plans to open two battery gigafactories as part of its strategy to reduce overhead costs and is considering developing a solid-state battery that could be ready for the market by 2030.

"Today marks a historic acceleration of the Renault Group's EV strategy, made in Europe. By building Renault Electricity, a compact, efficient, high-tech electric ecosystem in the north of France, and an e-powertrain megafactory in Normandy, we are building the conditions for Renault's competitive edge in our own country. Renault will nurture, invest in, and partner with best-in-class companies and start-ups in their respective fields: ST Microelectronics, Whylot, LG Chem, Envision AESC, Verkor, etc.

By 2030, the company envisions 10 new electric vehicle models, ranging from cost-efficient urban vehicles to sporty luxury vehicles, with up to 1 million electric vehicles manufactured. Luca De Meo, CEO of the Renault Group, said, "We are betting not only on efficiency but also on iconic designs like the beloved R5 to bring Renault character to electrification and to popularize electric vehicles."