VW unveils affordable EVs to take on Chinese rivals
Source: AFP
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Europe's top car manufacturer Volkswagen on Monday presented a series of more affordable electric vehicles to take on fast-growing Chinese rivals as Germany's troubled auto sector seeks to turn around its fortunes.
The four small EVs -- unveiled on home turf in Munich to coincide with the IAA auto show this week -- are from the VW, Cupra and Skoda brands, with starting prices of around 25,000 euros ($29,000).
Their commercial launch is set for 2026, VW said in a statement, and is part of efforts to combat Chinese carmakers which are gaining market share in Europe with their own affordable EVs.
Volkswagen says it has made considerable cost savings on the cars by sharing technology across the different models.
The 10-brand German group's medium-term aim is to achieve a 20 percent market share in the small electric car segment in Europe.
"The new model family brings premium technology to a class that represents the entry point into electric mobility for many people," said VW.
It is a tough task for the Germans to take on the Chinese, however.
In Munich on Monday, Chinese EV giant BYD announced that its Dolphin Surf electric compact car, already on sale in Europe since May for around 20,000 euros, will be produced from the end of 2025 in its future Hungarian factory.
This means it will avoid hefty tariffs that the EU has slapped on Chinese-made EVs over what Brussels says are unfair state subsidies.
Germany's top automakers -- VW, along with BMW and Mercedes-Benz -- have all suffered in recent times due to weak demand and fierce competition in key market China, where BYD and others have eroded their sales.
They have struggled with the shift to EVs as demand has proven weaker in Europe than many had anticipated, and prices have remained too high for many motorists.
Source: AFP
