Volkswagen to Develop an EV cheaper than €20,000!

🟢 Speaking to Autocar at #CES2024, #Volkswagen CTO Kai Grünitz announced that the budget-friendly electric ID.1 is under development.

🔋The German company has designed an urban-focused hatchback that will be sold for less than 20,000 euros. It plans to introduce this model in 2026 by replacing the electric Volkswagen Up that the company has recently ended production.

Volkswagen ID.1 will be budget-friendly

🔌VW ID.1 was designed with a focus on cost rather than high charging speed and range and may not have even a touch screen inside. The compact car will be sold with a low-profit margin. It will serve to introduce the Volkswagen brand to the customers who will buy their first vehicle.

💰After Citroen e-C3 and Renault Twingo, Volkswagen ID.1 also shows that the market share of electric vehicles will soon increase faster in Europe thanks to budget-friendly models.