Report: Volkswagen I.D. to Undercut Tesla Model 3 by $7,000-$8,000

Volkswagen will begin selling a production version of its I.D. electric hatchback concept by 2020. And when it finally arrives, it should cost significantly less than the Tesla Model 3.

Volkswagen is aiming for a price tag that is $7,000-$8,000 lower than the price of the Model 3, says Volkswagen chief strategist Thomas Sedran, speaking at the Automobil Forum in Germany last week. That means the all-electric hatch should cost approximately $28,000, reports Electrek.

Volkswagen is clearly taking aim at Tesla as it prepares to launch its first in a completely new fleet of EVs that will also include production versions of the I.D. Crozz crossover and I.D. Buzz van concepts. VW boss Herbert Diess has expressed confidence that the German automaker will become a market leader in this arena. “We see Volkswagen as the company that can stop Tesla, because we have abilities Tesla doesn’t have today,” Diess told Automotive News recently. After all, VW Group owns a dozen brands and has the advantage in terms of scale.

The Volkswagen I.D. concept that debuted at the Paris Motor Show last year featured an electric motor with 168 hp. It is estimated to reach 62 mph in less than 8 seconds, while the Tesla Model 3 is said to hit 60 mph in under 6 seconds. Tesla says its entry-level model will achieve at least 215 miles of range on the EPA cycle, but VW lists range for the I.D. at between 249 and 373 miles based on the New European Driving Cycle. Realistically, the two models should offer roughly the same amount of range.

VW Group plans to launch more than 30 battery electric cars by 2025. The automaker wants to sell between 2 and 3 million EVs by that time, equivalent to 20-25 percent of projected total sales. The timeline for the rollout of the I.D. hatch in the U.S. remains unclear.

Source: Eletrek, Automotive News (Subscription required)

The post Report: Volkswagen I.D. to Undercut Tesla Model 3 by $7,000-$8,000 appeared first on Motor Trend.

from Motor Trend http://ift.tt/2txCiOv