Volkswagen lays out details of planned affordable electric car By Reuters

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Volkswagen lays out details of planned affordable electric car

Stock Markets Mar 15, 2023 06:03PM ET

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Volkswagen lays out details of planned affordable electric car

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BERLIN (Reuters) - Volkswagen (ETR:VOWG_p) laid out on Wednesday the details of a planned all-electric car costing under 25,000 euros ($26,790), part of the German carmaker's push to derive 80% of VW passenger brand sales in Europe from all-electric vehicles by 2030.

The car with a 450-km range (280 miles), to launch in Europe by 2025, will be the first on Volkswagen's modular electric platform to feature a front-wheel drive, with design elements that hark back to the first Golf, VW said in a statement.

The battery will charge from 10% to 80% in around 20 minutes, with the car's top speed hitting 160 km per hour.

"We are implementing the transformation at pace to bring electric mobility to the masses," VW brand chief Thomas Schaefer said in a statement.

The car maker is also working on another electric car available for under 20,000 euros, it said, without providing further details.

($1 = 0.9333 euros)

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Midnight Trader Mar 15, 2023 9:30PM ET

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dar dar Mar 15, 2023 3:19PM ET

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Volkswagen lays out details of planned affordable electric car

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