Volkswagen plans to launch low-cost electric cars to compete in China

Volkswagen announced that it will independently develop low-cost electric vehicles to cope with competition in China's low-cost electric vehicle market. The electric car, code-named ID.1, is expected to be launched in 2027 and will cost about 20,000 euros. Volkswagen's sales in the Chinese market were once surpassed by BYD, which prompted Volkswagen to increase its research and development efforts on electric vehicles.