Volkswagen Plans Entry-Level EV by 2027, Expands Electric Portfolio

Volkswagen is eyeing the launch of an entry-level EV by 2027, as announced by VW brand chief Thomas Schaefer.
Volkswagen is eyeing the launch of an entry-level EV by 2027, as announced by VW brand chief Thomas Schaefer.

Volkswagen brand chief Thomas Schaefer announced that the company is planning to launch an entry-level electric vehicle by 2027. 

The company is currently evaluating proposals from four project teams for the vehicle, known internally as the ID.1, and a decision is expected in the coming weeks.

Expansion of Electric Vehicle Portfolio:

To bolster its electric vehicle offerings, Volkswagen intends to introduce 11 new electric vehicles under the Volkswagen brand over the next three years. 

Among these is the ID.2, slated for a 2026 release at approximately 25,000 euros. Additionally, Volkswagen has partnered with Chinese manufacturer Xpeng to develop models tailored for the Chinese market.

Pursuit of Cost-Efficiency and Partnerships:

VW Group Chief Executive Oliver Blume emphasized the company’s commitment to exploring cost-effective solutions for an entry-level electric model, aiming for a price tag of around 20,000 euros. 

Blume highlighted the possibility of partnerships in this endeavor, signaling Volkswagen’s openness to collaboration to achieve its objectives.

Strengthened Operating Performance:

Volkswagen reported an 80% increase in operating profit for its core mass-market brands in the previous year, attributed to closer cooperation among its brands. 

The collaboration across Volkswagen, Volkswagen Commercial Vehicles, Skoda, and SEAT/CUPRA resulted in a combined operating profit of 7.3 billion euros, driven by higher unit sales.

Focus on Efficiency and Innovation:

Schaefer emphasized the benefits of enhanced cooperation among Volkswagen’s brands, citing increased efficiency, competitiveness, and innovativeness. 

The company’s strategic alignment aims to deliver improved results through streamlined operations and a focus on customer-centric innovation.

Positive Outlook and Growth Expectations:

Volkswagen anticipates continued positive effects from closer cooperation among its brands, projecting improved results for the current year. 

Additionally, the company expects increased sales driven by enhanced supply chains for raw materials and components, further fueling its growth trajectory.

James Adam

James Adam, a noted business writer for CEO Times Magazine, specializes in insightful industry analysis and executive profiles. Known for his clear, concise style, James offers readers an expert perspective on global business trends and market dynamics.

Previous Story

Spotify Launches Full-Length Music Videos in Beta, Challenging YouTube

Next Story

US House Passes Bill Targeting TikTok ByteDance Amid Concerns

Latest from Business