Official statements from Volkswagen or credible business news outlets

Volkswagen to Develop Low-Cost Electric Vehicles for European Market Priced at €20,000, Scheduled for 2027

May 28, 2024, 05:35 PM

Volkswagen has announced plans to develop entry-level electric vehicles for the European market, with a world premiere scheduled for 2027. The vehicles will be priced around €20,000, or approximately $22,000. This initiative aims to better compete with Chinese rivals in the electric vehicle sector. The project will rely heavily on localization within Europe, and Volkswagen has decided to undertake this venture independently, opting not to partner with other automakers.