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Volkswagen targets 2027 for launch of affordable EV

This strategic move follows Volkswagen's decision to end its partnership with Renault to develop an entry-level EV.

Volkswagen aims to debut its new low-cost electric vehicles (EVs) in 2027, priced around $21,800, positioning itself competitively in the growing market for budget-friendly EVs. This strategic move follows Volkswagen’s decision to end its partnership with Renault to develop an entry-level EV, opting instead to proceed independently.

In March 2023, Volkswagen introduced the ID 2all concept, which combines the “spaciousness of a Golf” with the “affordability of a Polo” and is expected to start at under $27,000. The automaker plans to base its upcoming affordable EV lineup on this concept, with an even more cost-effective model, likely called the ID 1, to follow. These vehicles will utilize a modified MEB platform, with the ID 2all offering a range of up to 279 miles. The ID 1 will feature smaller battery options, such as 38 or 58 kWh, to keep costs low.

Additionally, Volkswagen plans to unveil an entry-level electric SUV, the ID 2all SUV, in 2026. Despite these promises, other manufacturers have already introduced several affordable EVs to the market.

Volvo’s EX30, starting at around $39,150 in Europe and $35,000 in the U.S., is set for deliveries this summer. In China, it launched at $27,800, competing with BYD’s low-cost models like the Atto 3 and Dolphin. GM has also begun delivering its Chevy Equinox EV in the U.S., with an entry-level model priced around $35,000 expected soon. Including the EV tax credit, prices for the Equinox 1LT FWD could drop to $27,495.

Other automakers, including Kia, are also launching affordable EVs. Kia’s EV3, priced between $30,000 and $50,000, will debut in Korea in July 2024 and Europe later in the year. The company is preparing additional models, such as the EV4 and EV5, with the latter already available in China starting at $20,000 and in Australia for around $40,000. Hyundai and Kia already offer some of the most affordable EVs in the U.S., with the IONIQ 6 averaging $36,506 and the Kona Electric starting at $32,675.

By the time Volkswagen’s affordable EVs hit the market in 2027, they will join a crowded field of budget-friendly electric options, highlighting the competitive nature of the evolving EV landscape.

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