Watch out China! Volkswagen preps entry-level ID.1 EV for mass markets
- Volkswagen is determined to mount a counter attack against Chinese brands that are fast gaining acceptance in several key European markets.
Affordability is the name of the game when it comes to electric cars and Chinese manufacturers looking at capturing overseas markets have mastered the skill. The rising number of EVs made by Chinese brands on European roads have manufacturers here worried but not clueless. Take Volkswagen for example. The German auto giant is readying an entry-level EV that will cost less than 20,000 euros (approximately ₹18 lakh) and will likely make its debut by 2027.
The most affordable Volkswagen EV at present is the ID.3 which comes at 40,000 euros (approximately ₹36 lakh). According to a Forbes report, EVs imported into several European markets tend to be around 30 per cent cheaper than comparable models from non-Chinese brands while offering ‘good quality.’
Companies that have long dominated the European car scene, like Volkswagen, do not want to throw in the towel. The ID.1 could be a solid response even if it does not make massive promises in terms of features, battery capacity and range. "This is the Champions League. To take so much cost out you need massive economies of scale," Volkswagen CEO Thomas Schaefer was quoted as saying by Automotive News Europe.
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Volkswagen ID.1 is set to replace the e-Up full-electric minicar which was based on the engine version of the Up model. But just packing in a smaller battery is not going to be enough and the company is reportedly looking at a partnership to share development. Rival brand Renault is speculated to be under consideration even though Volkswagen could also share costs with sister brand Skoda. Skoda is owned by Volkswagen Group and Skoda and Volkswagen have already confirmed plans to localise a small EV for the Indian market.
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So is there a chance that the ID.1 could come to Indian shores too? At present, it is not clear which ‘affordable’ model could touch down in the world's third-largest automotive market but when it comes to playing and playing big in the EV game, cost-effective options are more than likely to act as the guiding principle.