What would "The People's Car" be if no PEOPLE could afford it? Just a lonely car. 🥲🚙
VW will release its first affordable EV in 2025. The ID. 2all will cost around $27,000, have a 280-mile range, and feature some now-common beeps and whistles like a route planner/travel assistant.
Plans on Plans. Since the company announced its $200B 5-year electrification plan, all its announcements seem like background noise in a sci-fi movie. Imagine hearing, "VW is building a 20 gigawatt-hour battery factory in Canada to take advantage of US subsidies by locally sourcing lithium, nickel, and cobalt," ten years ago. Our first question would have been, "Why would a company spend so much money to get more nickels? Those are only worth five cents!"
Audi has affordability plans of its own. Now that chips are getting easier to find, they figure, "Why not put some chips in cheaper cars?" Which is the exact same question most people ask before they get ants.
Last year the brand saw earnings climb 40% as it prioritized higher-price models. While revenue will climb with 2023's product mix normalization, earnings expectations are more conservative since higher costs will weigh on profits.
CEO Markus Duesmann said the company has its sights on 100% electrification with EV offerings in its core segments by 2027. He did not share details but said the company is working on an entry-level EV to replace the A3.