Dacia's electric vehicle is speculated to be based on an existing model, with motoring press reporting that it will be a version of the Renault City K-ZE electric car that is produced and sold in China for about 8,000 euros

As Microsoft co-founder and former CEO BIll Gates stated the “premium” cost of an electric vehicle is a factor stopping the majority of people buying one.

Gates listed cost, the limited battery range and the time needed to recharge a battery in an interview with Marques Brownlee.

Data collected from 43 countries around the world showed that the average retail price of an electric car was 81% higher than other cars bought by consumers last year, JATO’s most recent study stated.

China is the world’s largest market for electric vehicles and Tesla, which has a manufacturing factory in Shanghai, has cut the starting price for its China-made Model 3 sedans by 16% to 299,050 yuan (US$42,919) after making it into the list of electric carmakers eligible for government subsidies. The Tesla Model 3, which is the US’s top-selling electric vehicle was 21% more expensive than the average vehicle. The price for a Tesla Model 3 is about US$40,000, in Australia it costs about AU$67,900 and in the UK about UK£38,900.

Europe is the second largest market for electric vehicles and Renault has announced it will unveil its promised electric Dacia at the Geneva International Motor Show on 3 March.

“True to its history as an ‘automotive gamechanger’, Dacia is entering the electric market and will present a 100% electric showcar. A revolution that capitalizes on Groupe Renault’s more than 10 years of expertise in electric mobility,” Groupe Renault said in a press release.

“As the only carmaker to offer a bi-fuel petrol and LPG range, named ECO-G, across its entire passenger car range, Dacia will present its new Tce 100 ECO-G engine.”

Renault, Dacia, electric vehicle

Dacia, which is based in Mioveni, Romania, is speculated to make an “urban city car” electric vehicle based on an existing model, with motoring press reporting that it will be a version of the City K-ZE electric car that is produced and sold in China by Renault and its Chinese joint venture partners. The City K-ZE is sold in China for about 8,000 euros.

Dacia executives, Automotive News Europe reported, have said that any electric car in its lineup must be affordable and priced significantly less than the Renault Zoe electric car, which starts at about 24,000 euros in France. Former Renault CEO Thierry Bollore said at the 2019 Frankfurt auto show that Renault was working on an electric vehicle that would sell for 10,000 euros in Europe.

All will be revealed on 3 March.