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

By Thomson Reuters May 28, 2024 | 11:04 AM

FRANKFURT (Reuters) – Volkswagen will develop low-cost electric vehicles in a bid to better compete with fierce Chinese rivals, Europe’s top carmaker said on Tuesday, after talks with Renault to team up on the project collapsed earlier this month.

The target is to produce electric vehicles in a price range of around 20,000 euros ($21,746), the company said, adding a world premiere was planned for 2027.

($1 = 0.9197 euros)

(Reporting by Christoph Steitz and Christina Amann; Editing by David Holmes)