German newspaper, Handelsblatt reports Friday that Volkswagen (ETR:VOWG_p) (VW) is in discussions with prospective collaborators, such as French carmaker Renault (EPA:RENA), to collaborate on the creation of its €20,000 ($21,476) electric car.
According to the report, the German automaker aims to explore partnerships to develop a platform for this vehicle, with the intention of making electric cars more economically accessible to a broader audience.
Handelsblatt, citing unnamed sources, said that the talks between VW and Renault are still "at a very early stage" and the outcome is still uncertain.
Handelsblatt reports that the combined target for both partners is an annual production range of 200,000 to 250,000 vehicles.
A spokesperson for Renault said that cooperation was necessary to be competitive with small-entry electric vehicles.
"We are in different discussions but nothing has been finalised," said the spokesperson.