Volkswagen Announces Plans for a More Affordable Electric Car

German carmaker Volkswagen (VW) has announced the details of a new electric car concept — dubbed the ID. 2all — that will sell for less than $26,534.

The car company is aiming for 80 percent of its passenger vehicle sales in Europe to come from electric vehicles (EVs) by 2030, reported Reuters.

“We are implementing the transformation at pace to bring electric mobility to the masses,” said VW Brand Chief Thomas Schaefer, as Reuters reported.

VW’s new EV will have a range of up to about 280 miles and will be the first of its modular electric cars to have front-wheel drive.

“The ID. 2all will be the first MEB vehicle with front-wheel drive. We are exploiting the great flexibility offered by our modular electric drive (MEB) platform and will set new standards in terms of technology and everyday usability with the MEB Entry platform,” said Kai Grünitz, member of VW’s Brand Board of Management responsible for technical development, according to a VW press release.

According to the company, the design of the new EV recalls the carmaker’s first VW Golf, which premiered in 1974.

“The ID. 2all gives a preview of the new design language of Volkswagen, which is based on the three pillars stability, likeability and enthusiasm,” said Head of Design at Volkswagen Passenger Cars Andreas Mindt in the press release.

The car’s maximum speed will be a little more than 99 miles per hour with a fast-charging battery that goes from 10 to 80 percent in about 20 minutes, reported Reuters.

The new electric model is scheduled to be launched in Europe by 2025.

According to Electrek, VW has invested almost $200 billion to speed up EV development and digitalization in the coming five years.

As the battery electric vehicle market leader in Europe, VW made 570,000 EVs in 2022.

“We are transforming the company rapidly and fundamentally – with the clear objective of making Volkswagen a genuine Love Brand. The ID. 2all shows where we want to take the brand. We want to be close to the customer and offer top technology in combination with fantastic design. We are implementing the transformation at pace to bring electric mobility to the masses,” said CEO of Volkswagen Passenger Cars Thomas Shafer, as Electrek reported.

The ID. 2all has a “powerful electric drive motor” and can go from zero to 60 miles per hour in less than seven seconds.

VW plans that by 2025 a minimum of one in every five vehicles sold around the world will be electric.

The carmaker plans to launch ten new EVs by 2026, including the production model of the ID. 2all.

VW has another EV in the works for less than $21,248, reported Reuters.

The company said it has a goal of 55 percent of its sales in North and South America to be from fully electric vehicles by 2030, and for 80 percent of its European sales to be from full EVs by then as well, BusinessGreen reported.

VW plans to invest $5.31 billion in battery and EV plants in North America, with another $1.06 billion toward its fully electric vehicle production in South America.

“Our strong financial base puts us in a position to continue investing in the electrification and digitalisation of our company, even in a challenging economic environment,” said Arno Antlitz, Volkswagen Group’s chief financial officer and chief operating officer, as reported by BusinessGreen.