Volkswagen to develop entry-level electric vehicles for 20,000 euros

FRANKFURT :Volkswagen will construct low-rate electric vehicles in a say to greater compete with fierce Chinese rivals, Europe’s biggest carmaker stated on Tuesday, after talks with Renault to team up on the mission collapsed earlier this month.

The goal is to construct electric vehicles for the European market priced at round 20,000 euros ($21,746), the firm stated, adding a world premiere used to be planned for 2027.

“It is about entry-level electric mobility from Europe for Europe,” Volkswagen Chief Executive Oliver Blume stated. “In doing so, we mix a transparent dedication to Europe as an industrial do, a European industrial policy and in the demolish act in the pursuits of European possibilities.”

The pass advance as Chinese rivals, a couple of of which interpret a 30 per cent rate advantage over Western chums, are muscling into Europe to rob market allotment and attack established carmakers on their dwelling turf.

Final week Volkswagen stated the European trade had between two and three years to prepare for the competitive threat, warning that the field’s survival used to be otherwise at possibility.

Volkswagen impress boss Thomas Schaefer stated that despite the low-label point, the planned entry-level mannequin would location requirements in phrases of workmanship, abolish and quality, adding this had change into extra no longer easy as a result of greater costs.

($1 = 0.9197 euros)