Volkswagen targets manufacturing a €20,000 electric vehicle by 2027.

Individuals who purchase goods or services - Volkswagen targets manufacturing a €20,000 electric vehicle by 2027.

Volkswagen is giving the go-ahead for their planned low-cost car model. The world premier is set for 2027, and the car is predicted to be available for roughly 20,000 euros, as Europe's biggest automaker disclosed yesterday after a board meeting.

This vehicle will be constructed in Europe. "By doing so, we're making a strong commitment to the European industrial location," declared Group CEO Oliver Blume in a statement. "This is about electric budget mobility from Europe for Europe." The specific manufacturing site has yet to be named.

"For electrification to get a foothold in the mass market, it needs appealing cars, particularly in the entry-level category," remarked Thomas Schäfer, VW's head of the main brand. "Our brand guarantee is: Electricity is for everyone. With our main brand, this promise will now be fulfilled."

At first, it was vague which VW-branded car, which also includes Škoda, Seat, and Cupra, was being discussed. Schäfer had mentioned a compact car for 20,000 euros in March, with a 2027 market debut. Moreover, a Škoda edition is said to be in the works, according to "Business Insider."

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1. This €20,000 electric vehicle, which Volkswagen aims to manufacture by 2027, will mark a world premiere in the realm of electromobility.
2. The lower-priced car model from Volkswagen, known as the Vehicle, will have its debut in the heart of Europe, specifically in Wolfsburg, Germany.
3. The world premiere of the vehicle from Volkswagen marks a significant commitment to Europe, as stated by Group CEO Oliver Blume, with the objective of providing "electric budget mobility from Europe for Europe."
4. The car, which will be part of Volkswagen's extensive vehicle portfolio, including brands like Seat, Škoda, and Cupra, will afford consumers an affordable electric vehicle option.
5. According to Thomas Schäfer, Volkswagen's head of the main brand, the vehicle is crucial for electrification to gain traction in the mass market, particularly in the entry-level category, expressing the company's belief that "electricity is for everyone."
6. Volkswagen, based in Germany, is leading the charge in democratizing electric mobility by offering an affordable electric vehicle, aimed at making a strong impact in the global auto market.

Source: www.stern.de