Volkswagen Looks To Expand Portfolio With Affordable EVs That Cost Under $30K

German automaker Volkswagen AG VWAGY said on Monday that it would bring affordable EVs priced under 25,000 euros ($26,873) into the market.

The key to the process would be bringing down battery costs. Volkswagen at the IAA Mobility press conference said it was well positioned to pull this off with a standard cell from subsidiary PowerCo as well as cost-effective cell chemistry without cobalt and nickel.

Further, with a developed MEB+ platform, Volkswagen, Skoda, and Cupra vehicles should be able to charge their batteries in less than 20 minutes, the company said. Modular electric drive or MEB refers to the open vehicle platform developed by the automaker for EVs.

Why It Matters: Volkswagen unveiled its ID. 2 all-concept vehicle in March. The production version of the concept, with a starting price below 25,000 euros, will be built on the MEB entry platform and is one of the ten new electric models that the OEM intends to launch by 2026.

The production version of the ID. 2all will be presented in 2025 for all the European market, the company then said.

“In spite of all the challenges, Volkswagen is also working on an electric car at a price of less than 20,000 euros ($21,498.40),” the company said, showcasing its vision of expanding its portfolio with more affordable electric vehicles.  

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