Reuters reports Monday morning, citing unnamed sources close to the matter, that French automaker, Renault (EPA:RENA) is considering partnerships to develop the company’s new Twingo electric vehicle by early 2024.

According to the sources, Volkswagen (ETR:VOWG_p) is among the companies being considered for the partnership. Renault confirmed the rumors about the talks. However, Volkswagen declined to comment.

Last month, Renault unveiled its latest Twingo EV model, named Legend, slated to be marketed for under 20,000 euros ($21,500). Thierry Pieton, the finance chief, highlighted the intention to make electric vehicles more accessible to the public.

Volkswagen disclosed plans in March for an upcoming all-electric vehicle priced at 25,000 euros, expected to debut by 2025. The German automaker had previously mentioned efforts toward a 20,000 euro car but refrained from sharing additional specifics.

German newspaper, Handelsblatt reported late last week that Volkswagen was in talks with Renault.