VW plans Tesla rival electric car for less than 20,000 euros: source

VW plans Tesla rival electric car for less than 20,000 euros: source

© Reuters. FILE PHOTO - A Volkswagen logo is pictured at the International Auto Show in Mexico City© Reuters. FILE PHOTO – A Volkswagen logo is pictured at the International Auto Show in Mexico City

FRANKFURT (Reuters) – Volkswagen (DE:) will offer a Tesla-rivalling electric car costing below 20,000 euros ($22,836) and convert three of its factories into electric car plants as part of a far-reaching overhaul, a source familiar with the deliberations told Reuters.

The electric car, known as “MEB entry” is being readied for a production volume of 200,000 vehicles, while a mid sized sedan, the I.D. Aero, will have a production volume of 100,000 units, the person said.

The plans are due to be discussed at a supervisory board meeting held on November 16, when the Wolfsburg, Germany-based carmaker is also expected to discuss far-reaching alliances with battery cell manufacturer SK Innovation (KS:) and with rival Ford (N:), the source further said.

Volkswagen’s German factories in Emden, Zwickau and Hanover will build electric cars as part of the overhaul, the source said.

Volkswagen declined to comment.

($1 = 0.8758 euros)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source : Reuters Link

Related Post