Volkswagen, Renault end talks to develop affordable EV

Volkswagen has abandoned discussions with Renault on collaborating to create a low-cost electric car, Twingo. The move hampers EU automakers' attempts to compete against Chinese counterparts with more economical vehicles. As a result, Volkswagen will pursue independent development of its budget-friendly EV, while Renault presses on with its electric Twingo slated for a 2026 release.