Volkswagen plans to launch low-cost electric cars

DUBLIN: Looking ahead to the multinational market, Volkswagen is planning to launch low-cost electric cars. The company’s polo-sized electric cars are priced between €20,000 and €25,000 in anticipation of tougher climate regulations. The VW brand plans to build 15 million electric cars by 2025. The current price of electric vehicles in Ireland starts at €24,000.

The Polo-sized, purely-battery powered car is being developed under a project called “Small BEV (Battery Electric Vehicle)”.  It will be cheaper than Volkswagen’s ID.3 electric car, which went on sale in September.

Volkswagen has not released details about the cars look or where it will be manufactured or when it will hit the market. Volkswagen has said it aims to increase sales of hybrid and electric vehicles by 40 to 60% by 2030, in anticipation of more stringent emission conditions from the European Union.

The company’s planned investment in digital and electric vehicle technologies has increased to €73 billion in five years. Of this, €35 billion will be invested in e-mobility.

Last week, German power grid companies, in partnership with Volkswagen and Bosch, launched an 18 – month project to find out how electric car batteries could help stabilize power grids.

The 50Hertz statement said that the 18-month programme aims to assess what digital measuring and control systems are needed to enable linked electric vehicles (EVs) to provide balancing power to the electricity market. 50Hertz is a partner in combining high share of renewable energy with cross-country power lines.

The German government also plans to bring seven million to 10 million electric vehicles on the road by 2030.