At the Geneva Car Show on Monday, the French firm unveiled a new model that is meant to be among the most affordable electric vehicles.

The Renault 5 evokes a big selling model of the same name that was launched back in the 1970s.

Base versions will be priced at around 25,000 euros, or around $27,000That should help them compete with an influx of low-priced Chinese EVs that have been grabbing market share.

But Renault design boss Laurence Van Den Acker says it’s not enough just to compete on price:”So with the new Renault 5, we’re trying to capture the spirit of fun, of pleasure, fun to drive, 100% electric, a car that is really technologically advanced, makes a bridge with the past and shows you the future.”

Renault scored a win over Chinese rivals when its Scenic EV took the prestigious Car of the Year title in Geneva.

That saw it beat rival nominees including the Seal sedan, made by Chinese giant BYD.

Even so, analysts say the fact that a Chinese firm was even in the running shows how far they have come.

Automotive journalist Peter Sigal says the price of EVs is a big issue:”So the main question around affordability of electric vehicles is the European Union’s 2035 deadline where automakers will only be able to sell zero emission cars, which essentially means… probably only electric vehicles, but the cost of the battery right now, EVs are unaffordable for a lot of European buyers, especially in eastern and southern European countries, and we see already that the rate of EV adoption in those countries is very low.”

Monday saw Beijing-backed SAIC launch a new European model for its fast-growing MG brand.

And the competition from Chinese firms is only going to grow.Industry experts at Inovev estimate automakers from the country will sell 1 million vehicles in Europe this year.