Volkswagen to develop entry-level electric vehicles for around 20,000 euros By Reuters

FRANKFURT (Reuters) – Volkswagen (ETR:) will develop low-cost electric vehicles in a bid to better compete with fierce Chinese rivals, Europe’s top carmaker said on Tuesday, after talks with Renault (EPA:) to team up on the project collapsed earlier this month.

The target is to produce electric vehicles in a price range of around 20,000 euros ($21,746), the company said, adding a world premiere was planned for 2027.

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