TECH - Amid Telsa BYD Competition Volkswagen Slashes ID.4 Electric SUV Prices In China To $20K | Benzinga
German automaker, Volkswagen AG (OTC:VWAGY), has significantly reduced the prices of its ID.4 electric SUV in China, now starting at $20,000, according to a recent report by Electrek.
The price cut was announced by FAW-VW, Volkswagen’s joint venture in China. The ID.4, initially launched in China in January 2021 at a price of 193,900 yuan ($26,700), is now being offered at a slashed price of 145,900 yuan ($20,060).
Volkswagen operates in China through two joint ventures, namely FAW-VW and SAIC-VW, selling two versions of the ID.4 and ID.6 electric models. The price reduction in ID.4 comes as the electric vehicle market in China intensifies with new competitors and pricing pressure.
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This move follows a similar price cut on the ID.3 electric car by VW-SAIC in July, with the vehicle’s price starting at 125,900 yuan ...