Renault boss Carlos Tavares will decide whether to revive the Alpine brand at the end of this year – with a modern reinterpretation of the iconic Alpine A110 being his favoured route for the marque to take.

Speaking at the Goodwood Festival of Speed, where he was driving the Alpine concept, Tavares revealed that he is in discussion with another manufacturer about a joint venture deal to develop the car, which he said would be sold for around £45,000 if it gets the go-ahead.

Although Tavares refused to name the manufacturer he was in discussions with, speculation suggests that the deal could be a further spin-off of the current relationship between Renault, Nissan and Mercedes.

“What is clear is that if we want to build a great car – which is the only way we will build an Alpine – then we must share the burden of development costs,” said Tavares. “I am working in that direction, but it is too early to say if the discussions will be a success.

“I am going softly in my plans, because we must get this car right. If the decision for a partner is positive, then it will take three to five years for the car to make production.”