Asia Tech Wire (May 31) -- French automaker Groupe Renault will develop a Twingo electric model priced below 20,000 euros with a Chinese partner, several media outlets reported on Thursday.

The reports cited a spokesperson for Renault's Ampere electric vehicle unit as saying that the company will work with a Chinese engineering firm, and plans to complete the development of the car within two years.

According to the spokesperson, the partnership with the Chinese firm will help it shorten the development cycle and reduce costs.

In addition, Renault will complete the styling and advanced engineering project in France and produce the car in Europe, the spokesperson said.

Earlier this month, Renault and German counterpart Volkswagen ended talks to jointly develop an affordable electric version of the Twingo.