VW to delay producing small electric vehicle - report

Friday, 27. November 2020 18:21

German automaker company Volkswagen conducted a product strategy indicating the delay of producing a small battery-electric vehicle (BEV) for at least three more years, Financial Times reported on Friday.

According to the report, the current Volkswagen ID.3electric car has already attracted 40,000 orders, mostly for its basic version that costs approximately €35,000. The company plans to launch its new small BEV that is expected to be priced within the range of €20,000-25,000.

Volkswagen executives reportedly remain unconvinced that there can be a profitable production of a small BEV for the next three years. Nevertheless, the German group aims to reach a sales margin of 3 million electric cars by 2025, to meet the European Union's emissions regulations.

Related Links: Volkswagen AG
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