Renault, the French carmaker announced that it has plans for a small electric car that will be manufactured at their factory in Valladolid Spain.

Company spokesman Jean-Pierre Laurent said that the electric vehicle will be in production in 2011. The small electric vehicle is aimed at being a low-emission petrol/electric model.

The announcement that a new electric car will be constructed at the Valladolid Renault plant is surprising, given that the last announcement regarding the facility was of its impending closure in 2012.

This however, appears to be off the table for the time being, as the manufacturing of the new electric car will be a four year investment in Valladolid, of about 500 million euros.