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Automotive Industry
Volkswagen (VOWG_p.DE) laid out on Wednesday the details of a planned all-electric car costing under €25,000 ($26,790), part of the German carmaker's push to derive 80% of VW passenger brand sales in Europe from all-electric vehicles by 2030.
The car with a 450-km range (280 miles), to launch in Europe by 2025, will be the first on Volkswagen's modular electric platform to feature a front-wheel drive, with design elements that hark back to the first Golf, VW said in a statement.
The battery will charge from 10% to 80% in around 20 minutes, with the car's top speed hitting 160 km/hour.
"We are implementing the transformation at pace to bring electric mobility to the masses," VW brand chief Thomas Schaefer said in a statement.
The car maker is also working on another electric car available for under €20,000, it said, without providing further details.
($1 = €0.9333)