The German Auto giant Company Volkswagen on Wednesday unveiled a new budget electric vehicle. as EV industry competition heats up. All models of front-wheel drive range up to 450 KM (280 Miles). The Price charged for the EV will be under 25,000 Euros ($26,300) when the vehicle hits European Market in 2025.
The EV is one of the electric models the Company plans to roll out by the year 2026. This sharply boosts investment in electrification and digitization.
Company Aims to compete in EVs:
The Automotive Company Volkswagen states that new models would give it” The widest and longest range of Electric vehicles as compared to its competitors. Their aim is just to achieve the electric car share of 80 percent in Europe.
The Company is implementing the transformation in place just to bring automobility to the masses.
Volkswagen CEO Thomas Schaefer:
Volkswagen Passenger Cars CEO Thomas Schaefer said in a statement. Thomas Schmall, a member of Volkswagen’s board of directors states that the company was confident it could maintain the low price point through economies of scale.
The Company stated a significant reason for the spending increase was its push to build a series of battery factories. The expenses are linked to securing the raw materials for the batteries. They plan to focus the spending efforts over the coming years on “growing its presence in North America region”.
As well as the Company Volkswagen wants to increase its competitiveness in the key markets of China. Where they are fallen behind their US rivals Tesla and the local car producers of Electric cars.
In the year 2022, battery-powered cars accounted for a record 7 percent of the Volkswagen group, which is amounting to 572,000 units globally.
Volkswagen expects Electric vehicles to make up around 10 percent of its car sales in the year 2023.
Give us feedback in the comment section on what you think about the Volkswagen Electric vehicles.
You might also like: BMW’s R 18 B Custom Takes Center Stage At Daytona Bike Week
