The automaker is looking for a mass-market electric car.
A more affordable entry-level electric vehicle will be offered by Volkswagen AG for 20,000 euros ($21,340).
The ID.1 model should debut as early as 2026–2027.
The high cost of the battery makes it difficult to achieve a lower price.
Notwithstanding the high cost of batteries, Volkswagen is making every effort to meet its reduced pricing goal, including the potential for platform sharing with another manufacturer, according to the firm.
To compete with Tesla Inc. and stop the decline in sales in China, the corporation needs a mainstream electric vehicle.
VW has not yet decided if the electric vehicle will be produced in Europe or if it will need to be transferred to a less expensive location.
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