Renault Samsung Motors Corp., the South Korean unit of Renault S.A., will begin mass production of its two-seat electric car Twizy at its manufacturing plant in Busan from the first quarter of next year with plans to ship them to neighboring markets in Asia.

According to multiple sources from the automobile industry on Monday, Renault Samsung Motors will sign a memorandum of understanding (MoU) with Busan city government and the Ministry of Trade, Industry and Energy this month on churning out its ultra-compact Twizy electric cars at its Busan plant. Under the MoU, Renault Samsung Motors will begin the mass production in March, next year, at the latest.

The Renault Twizy is a compact two-seater electric car whose biggest appeal is in easy parking - three Twizys can be parked in one parking space. Although the fully-electric car is small in size, it is equipped with safety specifications such as a four-wheel disc brake and a charging facility for standard 220 volt household electric supply. The compact car has been spotlighted in the local electric car market since 2016 as a means of courier and delivery services as well as short-distance travel.

Twizy sold 1,411 this year, compared with 259 last year. Sales in Korea and other parts of Asia may gain more momentum when they are assembled in Busan. The electric car was entirely produced in finished form in Valladolid, Spain.

Renault Samsung Motors plans to produce up to 15,000 units per year in Busan and supply them not only to the domestic market but overseas in Asia. The locally-produced Twizy is mulled to have upgraded specifications such as improved battery capacity and additional air conditioning and heating equipment.

By Park Dong-min and Lee Eun-joo

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