TECH - Volkswagen CEO Optimistic About The Possibility Of $21K EV By Second Half Of Decade | Benzinga
In the world of electric vehicles (EVs), a reasonably priced option may soon be on its way. Volkswagen’s (OTC:VWAGY) CEO, Oliver Blume, has expressed optimism for a 20,000 Euro ($21,714) EV by the second half of the decade, despite plans for such a vehicle not yet being finalized.
What Happened: As reported by Reuters, Blume is confident in his company’s potential to achieve the goal of a 20,000-euro EV by the latter half of the decade. This confidence was voiced during a conference in Berlin.
According to Blume, the key to decreasing EV prices lies in reducing battery costs. He referred to the company’s strategy of manufacturing a unified battery cell, expected to cut battery expenses by half.
In March, Volkswagen shared details about a 25,000 Euro ($27,125) all-electric car under development, equipped with a 450-km range and quick charging capabilities. The company also hinted at working on a less expensive 20,000 Euro ($21,714) vehicle, but no further details were provided.
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