Volkswagen Developing Affordable Compact Electric Vehicle

TapTechNews May 29th, Volkswagen Group (VolkswagenGroup) stated that it has been developing a compact electric vehicle priced at 20,000 euros (TapTechNews note: currently about 158,000 Chinese yuan), and plans to launch it to the market in 2027.

Thomas Schäfer, CEO of the Volkswagen brand, said in a statement: Despite the very affordable price, our car will set the standard for the entry-level market in terms of technology, design, quality and customer experience.

In the domestic market, the proportion of new energy vehicles in the total car sales has reached 50%, and various car companies continue to reduce the car price. In the Western market, the cost of electric vehicles is still more expensive than that of internal combustion vehicles, and the market acceptance is not high.

TapTechNews reported on May 20th, Volkswagen said, While we are launching vehicle models that meet the needs of different consumers, we are also advancing the electrification process at full speed. We always adhere to the electrification strategy. However, in the process of transformation, due to the differences in the pace of market development around the world, we must flexibly promote the powertrain layout.