volkswagen (VOW.DE) achieved something on Wednesday that You’re here (TSLA) failed at its Investor Day this month – show less than $30,000 electric vehicle (EV).
At an event in Hamburg, Germany, Volkswagen offered a first look at its ID.2all concept, a car which will cost less than 25,000 euros ($26,400) and go into production for the European market in 2025. VW did not mention if the car would eventually make it to the US (The even smaller and even cheaper ID.1 surely won’t..)
“The ID.2all shows where we want to take the brand. We want to be close to the customer and offer cutting-edge technology in combination with fantastic design,” said Thomas Schäfer, CEO of Volkswagen Passenger Cars. “We are implementing the transformation at a sustained pace to bring electric mobility to as many people as possible.”
Between a Polo compact sedan and a Golf, Volkswagen says the ID.2all will be offered with “an improved footprint” from an interior perspective. Generally speaking, this means that the EV powertrain and battery the installation will allow for more interior space.
VW says the ID.2all also “introduces the new design language for our future models” for the auto giant.
Inside, the ID.2all concept features an all-new HMI — or user interface — system with real knobs and buttons, Volkswagen said. Models like the current Golf R have been criticized for removing buttons and forcing users to find and access functions with the touchscreen, which can be cumbersome.
Volkswagen says the production version of the ID.2all will feature front-wheel-drive architecture using an entry-level MEB platform for electric vehicles, an estimated range of 450 km and 150 kW fast charging.
The ID.2all will be one of 10 new electric vehicles that Volkswagen plans to launch by 2026. One of them, Volkswagen says, will be another that will cost less than 20,000 euros ($21,000). .
Just this week, VW announced it would spend $193 billion over the next 5 years in what the company calls its “most attractive profit pools”, which include battery production, expanding its footprint in North America, digitization efforts and products in China.
VW says two-thirds of spending will be specifically earmarked for electrification and digitalization, meaning car software and user interface features, for example. VW says there will be continued investment in gasoline engines, which is expected to peak in 2025 and then eventually decline.