Renault-Nissan is planning to introduce low-cost electric-car program in China, with the aim of selling an EV for as low as $8,000, CEO Carlos Ghosn said on Thursday.

"What we want to do is bring a $7,000-8,000 electric car without incentives," Ghosn said during the New York Times Energy for Tomorrow conference in Paris. "If we are able to make this kind of breakthrough, it's going to change the game."

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Just last month, the Renault-Nissan said it will use its research and development in Chennai, India, to develop affordable electric vehicles in China.

Ghosn noted how the Chinese EV market is booming and how the company is losing its shot on potentially competing with local players that are also developing cheap electric cars.

"We will develop low-cost electric cars based on knowledge coming out of India, but deploy it in China, because that is where the market exists," Ghosn told Economic Times during the Paris Motors Show last month.

Furthermore, Renault-Nissan said they will develop affordable EV since its Nissan Leaf is too expensive for China's local market, the Automotive News reported. The company sold just less than 1,300 Venucia e30 units, local version of the Leaf, in China in 2015. The car starts at 242,800 yuan ($36,900).

China aims to put at least 5 million electric and plug-in vehicles on the road by the end of the decade, according to Gas 2. Its government is offering "new energy vehicles" buyers substantial incentives that go beyond rebates and credits. For instance, electric car buyers can now ditch the waiting time to get permission to register through a lottery, which could take up to 5 years.

Meanwhile, with an EV price tag of only $8,000, it appears that Renault-Nissan aims to achieve its goal by selling battery cars without any subsidies, the Motoring noted.

TagsRenault Nissan, Renault Nissan China, Renault Nissan electric car, Nissan Leaf, China electric car subsidy