Elon Musk Beaten by Volkswagen in The Race For Low-Cost Electric Vehicles, Plans to Sell For $26k

Elon Musk Beaten by Volkswagen in The Race For Low-Cost Electric Vehicles, Plans to Sell For $26k

  • Volkswagen has unveiled its cheap Electric Vehicle, which it plans to mass-produce in 2026
  • The cheap vehicle beats Elon Musk’s plan to release a more affordable Tesla model
  • Findings reveal that the latest Volkswagen vehicle might not get wide adoption in the US yet

Elon Musk had touted plans by Tesla to unveil a $25,000 electric car for the masses. Volkswagen snatched that market right under his nose.

On Wednesday, 15, 2023, Volkswagen unveiled the ID.2all, a small battery-powered hatchback that it plans to release for $26.500 when it becomes available in the market in three years.

Volkswagen, Elon Musk, Tesla
Elon Musk, Tesla CEO Credit: Justin Sullivan / Staff
Source: Getty Images

Volkswagen vehicle to be available in three years

The average price of an electric vehicle is sold for $58.385 as of February, Kelly Blue Book says. Tesla’s Model 3 price starts at $42,990.

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Volkswagen said the electric vehicle has a range of about 280 miles, front-wheel drive, and a single motor delivering 223 horsepower.

According to BusinessInsider, Volkswagen is yet to make the vehicle available on a large scale.

Reports say the new EV would be challenging to sell to Americans who love SUVs over the small hatchbacks which are popular in Europe.

Elon Musk beaten as he fails to fulfill the promise

Elon Musk promised in 2020 that a fully autonomous,$25,000 vehicle would be available in three years.

In February 2022, Must told stakeholders that Tesla was too busy working on other projects to come through with its promise, stating that it is building a humanoid robot.

Musk promised in early March 2023 that there are no such plans to produce low-cost EVs.

Other car manufacturers are targeting low-priced EVs as a study shows that about 70% of US consumers would not want to spend about $50,000 to buy an EV which is the most significant setback to their adoption.

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"Fuel Lol": Plate number of Tesla electric car causes stir in Lagos, mocks fuel-powered vehicles

Legit.ng reports that a plate number of a Tesla electric car that appears to be making a mockery of fuel-powered engines has gone viral on Twitter.

Instead of the standard codes found on traditional number plates, what is seen on the Tesla is "Fuel Lol", an apparent reference to fuel-powered engines.

The photo shared on Twitter by @AdeyemiDavid_ quickly went viral and attracted the attention of Nigerians. It trended for several hours on the bird platform.

Source: Legit.ng

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