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10/21/2008 06:43 AM
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Renault, Spain Consider Electric Vehicle Initiative
SustainableBusiness.com News
Renault (RNL.F) is reportedly in discussions with the Spanish government to introduce electric cars within three years.
Spain's Industry Minister Miguel Sebastion told Reuters a working group would be put together in the next few months to study medium- and long-term plans to adopt electric car usage with Renault as a "main player."
Renault and its electric-vehicle partner Nissan Motor Co.(Nasdaq: NSANY) are already working with the government of Portugal on a similar plan and with Project Better Place, which is developing recharging networks in Israel and Denmark.
Sebastion also said Spain's electricity producers have expressed interest in the plan. French utility EDF (EDF.PA) is working with Renault on a large scale electric car project in France.
Renault is developing an electric car, known as the Fluence, which is based on the company's mid-sized Megane vehicle. The four-dour compact sedan will be powered by lithium-ion battery packs made in a partnership between Nissan and NEC Corp.
Renault said it expects annual demand for the vehicle to be 50,000 in 2011, the year the vehicle will be released.
