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Renault will jointly develop small, cheaper electric vehicles for Ford for the European market and will also team up to produce commercial vans to cut costs and fend off rising competition from Chinese rivals, the companies said on Tuesday.

"We know we're in a fight for our lives in our industry," Ford CEO Jim Farley told reporters in Paris on Monday ahead of the announcement, when describing Ford's response to the threat posed by cheaper Chinese competition. "There is no better example than here in Europe."

Europe's traditional automakers face an influx of Chinese rivals from BYD to Changan and Xpeng.

Filling a gap in the lineup

As part of the Ford-Renault partnership, the first of two pla

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