Monday, December 10, 2018
Technology

Volkswagen to storm automobile market with cheaper electric cars

German auto giant Volkswagen is reportedly developing a cheaper electric car variation for users of the electric cars.  This cheap car is expected to sell at  $23,000 (N8.4 million).

The company is also said to provide jobs in Germany by converting three of its factories to manufacture these cheap electric cars in the country, which means more hands will be needed to meet public demand.

If it’s able to put out an electric car at that cost, the company would have successfully undersold Tesla’s Model 3 by almost $12,000. Model 3 is the cheapest electric car that Tesla sells and it is the company’s first mass-market electric car, and this was the beginning of the many falls that affected out started Tesla CEO Elon Musk.

VW’s cheap electric car plans are referred to as “MEB entry,” and the initial model may have a production volume of around 200,000 vehicles. The plan will reportedly be discussed at the company’s supervisory board meeting on November 16th. The meeting will discuss VW’s transformation plan to become a mass producer of electric cars from Europe’s largest manufacturer of combustion engine vehicles.

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