The promised $35,000 Tesla Model 3 is still some months away from production. So the Volkswagen group reportedly readying a competitor that will come in well below that number.
Reuters reports that the automaker is planning a model for its ID range of electric cars priced below 20,000 euros. Well, it is just under $23,000, citing a source within VW.
This report comes among indications that Volkswagen is shifting to convert several more existing plants in Germany to EV production, including a Passat-producing plant in Emden and a Crafter commercial van plant in Hanover.
The debut model from the ID lineup is due in a little over a year
The first car will be the ID hatchback, which has already been previewed in concept form. This model will be produced at the VW plant in Zwickau, which is expected to build the smaller models from the ID lineup.
Volkswagen aims to make electric cars as affordable and accessible as gasoline and diesel-engined vehicles. While Porsche and Audi are rolling out their first EVs at the moment, concentrating on the higher-priced segments.