Reported 4 months ago
Volkswagen announced plans to develop low-cost electric vehicles to compete with Chinese rivals in Europe, aiming to launch these EVs priced around 20,000 euros by 2027. The project, named ID.1, emphasizes local production to reduce emissions and cut costs, as Chinese automakers with a 30% cost advantage are increasingly entering the European market. Volkswagen's CEO stressed the need for political support and competitive conditions for the success of this initiative, highlighting the challenges of higher energy, raw material, and labor costs in achieving high-quality, affordable electric mobility in Europe.
Source: YAHOO