Volkswagen is still charging ahead with plans for a low-cost EV launch in Europe

Volkswagen AG (OTCPK:VLKAF) (OTCPK:VWAGY) has a new target to debut low-cost electric vehicles in Europe in 2027. The new Volkswagen (OTCPK:VLKAF) EVs are expected to be priced at around $21,800 (€20,000). The renewed focus on introducing a mass-market EV followed the collapse of the German automaker’s potential partnership with Renault SA (OTCPK:RNSDF).

“It’s about entry-level electric mobility from Europe for Europe,” Volkswagen Chief Executive Oliver Blume said in a statement. “In doing so, we combine a clear commitment to Europe as an industrial location, a European industrial policy and ultimately act in the interests of European customers,” he added.

Volkswagen’s (OTCPK:VLKAF) is aiming for the same price and launch date for the ID.1 lineup as Renault SA (OTCPK:RNSDF) has with its electric Twingo. Chinese brands are also getting more aggressive in the region, despite regulatory and political pushback. BYD Company (OTCPK:BYDDF) is looking at building two plants in Europe and has plans to offer its Seagull hatchback next year at a price below €20,000.

Earlier in the year, Volkswagen (OTCPK:VLKAF) said its ID.1 concept includes a vision for electric mobility that combines city chic aesthetics with cutting-edge technology. The company said the ID.1 vision is for a new era of sustainable and stylish transportation within urban landscapes.