Volkswagen could be looking to develop an affordable electric vehicle in the near future, according to Reuters. The German automaker is rumoured to be working on an all-electric vehicle roughly the size of a Polo and will be built as part of the Small BEV (Battery Electric Vehicle) project.
The reasoning behind Volkswagen’s plans to start producing affordable EV’s is to prepare for ‘tougher climate regulations,’ as Reuters reports. Volkswagen will need to bolster its offering of hybrid and electric vehicles in the European market to 60% by 2030, as part of the European Union’s more stringent emission regulations.
If Volkswagen are indeed able to achieve their goal of developing a small and affordable EV, it would be cheaper than the companies first electric vehicle, the ID.3 electric car, which went on sale in September 2019.
Volkswagen is bringing forward the development of a small electric car for the mass market in anticipation of tougher climate regulations, according to plans seen by @Reuters, as it seeks to boost sales in a new green era https://t.co/TibZdsNgNI
— Reuters (@Reuters) November 27, 2020
The new EV’s will reportedly cost between R360,000 and R450,000, but there is no word on what they will look like, where they will be built, or when exactly the new range of vehicles will be launched. Earlier this month, Volkswagen made the announcement that it would be spending around EUR 73 billion on electrification, hybrid powertrains and digital technology over the next five years.
Approximately EUR 35 billion of that investment will be spent on battery-electric vehicles. A further approximately EUR 11 billion has been earmarked for the development of hybrid vehicles of existing models.