Industry / Autos / Briefing / Electric Cars / Tesla / Volkswagen

Volkswagen's Answer To Tesla: A €20,000 Electric Car

Posted On: Nov 9, 2018   |   Posted By: Fortune

Volkswagen vlkpy wants to offer an entry-level electric car for less than EUR20,000 and is planning on converting three of its factories in Germany to focus on electric challengers to Tesla tsla
, Reuters reports.
VW is aiming to produce 200,000 of the new electric car, known as the “MEB entry”, in its factory in Emden. Coupled with this, the German car giant is also aiming to build 100,000 of the I.D. Aero in a plant that currently makes the VW Passat.
According to Reuters, the plan will be discussed at a supervisory board meeting on Nov. 16.
The German carmaker is also expected to discuss its alliances with battery cell manufacturer SK Innovation and rival Ford f
at the strategy meeting, which will focus on VW's electric future.
Volkswagen, like all established automakers, is spooked by the success of upstart electric challenger Tesla, but it's also still paying penance for the sins of Dieselgate. As cities start to ban diesel vehicles, German carmakers are desperate to save 600,000 industrial...

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