VOLKSWAGEN has backed out of its plans to create an affordable electric car with another automaker, according to reports. The German automaker was in talks with Renault to build an affordable version of the Twingo electric vehicle. The German automobile maker was in talks to produce a cheaper electric vehicleGetty Volkswagen and Renault were reportedly close to a deal before the German-based company walked away The two companies reportedly “did not succeed in finding an agreement,” a source told Reuters. A second insider claimed that the pair were very close to signing an agreement but it fell to shambles when Volkswagen declared its intention to develop the car on its own.
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