Volkswagen Targets Low-Cost Electric Vehicles to Compete with Chinese Rivals

Volkswagen aims to develop low-cost electric vehicles to compete with Chinese manufacturers, following the collapse of talks with Renault. The goal is to produce EVs priced around 20,000 euros, with a world premiere planned for 2027.

Volkswagen will develop low-cost electric vehicles in a bid to better compete with fierce Chinese rivals, Europe's top carmaker said on Tuesday, after talks with Renault to team up on the project collapsed earlier this month.

The target is to produce electric vehicles in a price range of around 20,000 euros ($21,746), the company said, adding a world premiere was planned for 2027.

($1 = 0.9197 euros)