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Renault keeps faith in electric residual values

Date: 12 July 2013   |   Author: Jack Carfrae

Renault believes the residual values of electric vehicles are strong enough to appeal to the fleet industry, despite long-standing derision from RV specialist Cap.

Ben Fletcher, product manager for the Renault's ZE range of electric vehicles, told BusinessCar: "Cap has been very negative about the RVs, but that's Cap's point of view."

Cap's position on residual values has been clear for some time. Speaking at the 2011 BVRLA conference, the organisation's manufacturer relations manager, Martin Ward, described electric vehicle RVs as "bleak and disappointing", adding: "Never before in the history of the motor industry have so many been involved to sell so few."

Fletcher argued to the contrary, claiming other RV specialists had been more receptive to EVs: "Glass's do attach an RV to them and KeeResources do, and they've been quite positive about them."

The French brand currently has a suite of four electric vehicles and has backed full electric power as a viable alternative to petrol and diesel engines.

Commenting on the technology's application to the corporate car industry, Fletcher said: "We have deals in place with the leasing companies. It's like anything really, some leasing companies are keener than others but all of them have a preference for something."

He added that Renault's smallest EV - a two-seater quadricycle known as the Twizy - which was originally slated as a niche product for retail buyers, had actually found a degree of success in the business community, trading on its obscure looks and quirky status as a promotional tool.

"A lot of companies are buying Twizys because it's a great way to get noticed. It's like a mobile billboard - it's a method of getting your company a lot more recognised in a local area."

The company has recently announced a van version of the Twizy, where the rear seat is replaced by a 180-litre lockable load area.

Fletcher said Renault intended to concentrate on its pure electric vehicles for now, but that there may be scope to move into hydrogen vehicle manufacturing in the long term.

He cited an existing tie-up between sister company Nissan and Mercedes, which involves the two manufacturers teaming up to explore opportunities for hydrogen-powered vehicles, which could filter across to Renault in time.



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