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Volkswagen has announced it will take on cheap Chinese EV imports with its own European bargain EV, the ID.1.It is due to be unveiled in 2027 with a bargain price.
Volkswagen will develop low-cost electric vehicles in a bid to better compete with fierce Chinese rivals, Europe's largest 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 for the European market priced at around 20,000 euros ($21,746), Volkswagen said, adding that a world premiere was planned for 2027. "It's about entry-level electric mobility from Europe for Europe," Volkswagen Chief Executive Oliver Blume said in a statement.
Volkswagen brand boss Thomas Schaefer says that the planned entry-level model will set standards in terms of technology
Volkswagen has reportedly ended talks with Renault for the production of an affordable for unspecified reasons after less than five months.
Renault With Volkswagen: The collapse of negotiations could mean the German carmaker may have to go it alone in developing its own affordable electric vehicle (EV). Renault will continue designing its electric Twingo, scheduled to hit the market in 2026.