Also present was the lead actor's girlfriend Kristen Stewart, whose movie On the Road received its own premiere at Cannes on Wednesday, May 23.
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Set in a futuristic metropolis, the film's plot revolves around the Twilight star's character, millionaire Eric Packer, travelling in a limousine while being followed by an assassin. It is adapted from the novel of the same name by Don DeLillo.
Critical reaction to the movie has been mixed, with Digital Spy concluding: "There's plenty to chew on here but it's just not much of a ride."
Cronenberg has, however, described Pattinson's acting as "sensational".
The actor admitted at Cannes: "Everyone's asking what's the movie about and I have no idea."
Watch a teaser trailer for Cosmopolis below: