Volkswagen Set to Launch $22,000 Electric Vehicle in Europe by 2027 Amidst EV Market Shake-Up

Volkswagen has set its sights on unveiling an electric vehicle that will cost 20,000 euros, which is about $22,000 according to today's currency value, by the year 2027, with a focus on the European market and other regions.

Volkswagen announced in a press release that their reasonably priced electric vehicle is designed for the European market, involving a considerable level of local production and supply chain integration. This strategy will enable the reduction of travel distances for parts, which in turn will decrease the total carbon emissions associated with the production of these cars, the car manufacturer pointed out.

"Volkswagen Group is focusing on providing basic electric transportation options that are designed in Europe, for European consumers," stated CEO Oliver Blume. "By taking this approach, we are affirming our dedication to Europe as a key manufacturing base, aligning with European industrial strategies, and ultimately making decisions that benefit consumers across Europe."

Preview of Volkswagen's Upcoming Electric Vehicle Priced at $22,000 for the European Market, Set to Launch

The language used suggests that this initiative could be a response to the increasing presence of Chinese electric vehicles in Europe. In 2023, France declared its intention to remove China from its electric vehicle incentives program to curb this surge.

Building a foundation for producing batteries in Europe is going to require significant effort. At the same time, China has reached a point where it can produce batteries to meet the entire worldwide demand for electric vehicles, as per the latest calculations from Bloomberg New Energy Finance.

The current government under President Biden in the United States has decided to increase the import taxes on electric vehicles (EVs) from China, which will come into effect in the coming months. This move is aimed at safeguarding local EV producers, but it might not be well-received by all buyers. Recent surveys indicate that the younger demographic in the U.S. is more accepting of EVs made in China. However, unlike the European market, there are presently no Chinese electric vehicles being sold in the American market.

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Manufacturing of the 2020 Volkswagen ID 3 commenced at the Zwickau facility in

Volkswagen's initiative to create a cheaper electric vehicle involves several projects, including one that aims to deliver a model priced at $22,000. Additionally, they are working on a vehicle expected to be priced under $35,000 for the North American market, anticipated to launch around 2027.

In the European market, Volkswagen is set to introduce a new line called the "Electric Urban Car Family," which will feature four electric vehicles all priced below 25,000 euros (equivalent to about $27,000), with the launch expected in 2025. This lineup will consist of small-sized cars from both Volkswagen's primary brand and Cupra, alongside diminutive SUVs from Volkswagen and Škoda. These vehicles are all scheduled for production in Spain.

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