Volkswagen Group is reportedly planning to produce an electric vehicle that costs less than 20,000 euros. At current conversion rates, that would mean an electric vehicle that costs just under $23,000.
Known internally as the “MEB entry,” the car is projected to have a sales volume of about 200,000 copies per year. Reuters reports the car is part of a broader plan for Volkswagen Group to convert three more German assembly plants to electric vehicle production.
VW’s supervisory board is slated to discuss the entry-level electric vehicle and possible alliances with rival Ford Motor Company and battery-maker SK Innovation at a planned meeting on Nov. 16th. It’s not known if the entry-level car will be approved for production at the meeting.
The meeting this Friday is also slated as a broader strategy discussion for Volkswagen. Specifically, the automaker has to cope with quickly-changing regulations in Europe surrounding emissions, including the ban of diesel engines from several European cities. Volkswagen must develop a strategy to retain thousands of industrial jobs across Europe.
News has also leaked that VW is planning to produce a new electric model called the I.D. Aero at its plan that currently produces the VW Passat.