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Volkswagen Group's First Affordable Electric Car Will Be Priced Under $22,400
The first MEB platform-based EV will launch under the auto giant's Seat brand.
Volkswagen is betting its future on electric cars, and the automaker is investing gobs of cash into the development of future products capture as many sales as possible in the coming years. Now, one of Volkswagen's brands plans to undercut the competition, reports the Financial Times, by releasing an electric vehicle (EV) for under $22,400.
The automaker will produce the EV car under the guidelines of its affordable brand, Seat. The idea is to use Seat's already entry-level pricing to undercut competitors on pricing in the EV market, effectively stonewalling automakers like Nissan and Renault from meeting its pricing.
This latest news is part of Volkswagen's strategy to sell more than one million electric cars annually by 2025.
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