Volkswagen’s CEO, Oliver Blume, expressed his belief that the company will introduce an electric vehicle priced at €20,000 ($21,714) in the second half of the 2020s. While a final decision has not been made, Blume emphasized the importance of reducing battery costs to make electric cars more affordable for a wider customer base. As the prices of electric vehicles continue to drop, more options become available for consumers.
Although government subsidies were created to incentivize the purchase of affordable electric vehicles, many models are still too expensive for some buyers. Tesla, for example, has hinted at the launch of a €25,000 electric vehicle in the European market. Additionally, Tesla plans to produce similarly priced models at its Gigafactories in Texas, Shanghai, and Mexico.
In March, Volkswagen announced discussions about a €20,000 vehicle, but no specific details about the car or production timeline were revealed. Blume reiterates the company’s commitment to bringing the right products to the market at the right price.
Lowering electric vehicle prices poses a challenge for Volkswagen and other manufacturers. Early adopters were willing to invest substantial amounts in EVs, but now the goal is to attract consumers who are unable to install charging stations at home. However, obstacles such as inflation, inadequate charging infrastructure, and subsidy removal hinder the demand for electric vehicles.
Last week, Volkswagen also announced its plan to introduce a $35,000 electric vehicle in the United States within the next 3-4 years. This strategic move is expected to expand Volkswagen’s customer base and contribute to the company’s ambitious electric vehicle sales targets for the coming decade.
Q: When does Volkswagen plan to release a €20,000 electric vehicle?
A: Volkswagen anticipates releasing a €20,000 electric vehicle in the second half of the 2020s.
Q: What are the key factors in reducing electric vehicle prices?
A: Oliver Blume, CEO of Volkswagen, believes that reducing battery costs is crucial in making electric cars more affordable.
Q: Which automaker has mentioned the launch of a €25,000 electric vehicle?
A: Tesla has hinted at introducing a €25,000 electric vehicle in the European market.
Q: What challenges does the electric vehicle industry face in terms of affordability?
A: Some challenges include inflation, insufficient charging infrastructure, and the removal of subsidies, which hinder the demand for electric vehicles.
Q: What are Volkswagen’s plans for the United States?
A: Volkswagen intends to launch a $35,000 electric vehicle in the United States within the next 3-4 years.