Volkswagen ( VOW.DE ) achieved something on Wednesday that Tesla ( TSLA ) could not at its investor day this month — show off a sub-$30,000 electric vehicle (EV). At an event in Hamburg, Germany, Volkswagen offered the first glimpse of its ID.2all concept, a car that will cost less than 25,000 euros ($26,400) and will go into production for the European market in 2025. VW hasn’t mentioned whether the car will eventually come to the U.S. (the smaller, cheaper ID.1 certainly won’t.) “The ID.2 all shows where we want to take the brand. We want to be closer to the customer and offering top technology combined with stunning design,” said Thomas Schaefer, CEO of Volkswagen Passenger Cars. “We are implementing change at a pace to bring electric mobility to people.” Sized between the Polo compact hatchback and the Golf, Volkswagen says the ID.2 will all be offered with an “improved footprint” from an interior standpoint. Generally speaking this means that the EV powertrain and battery setup will allow for more interior space. says VW. The ID.2all also “introduces a new design language for our future models” for the auto giant. Inside, the ID.2all concept features an all-new HMI system — or user interface — with real knobs and buttons, Volkswagen said. The current Golf R has received criticism for removing buttons and allowing users to find and access functions with a touchscreen, which can be cumbersome. Volkswagen says the production version of the ID.2all will feature a front-wheel drive architecture using the MEB entry platform. The EVs have an estimated range of 450 km, and feature 150kW fast charging. The ID.2all will be one of 10 new EVs to be launched by Volkswagen by 2026. Volkswagen says one of them will be another one that costs less. 20,000 euros ($21,000). Just this week VW said it will spend $193 billion (180 billion euros) over the next 5 years on what the company calls its “most attractive profit pool,” including battery production, expanding its footprint in North America, and digitalization efforts. Products in China. VW says that two-thirds of the costs will be earmarked specifically for electrification and digitalisation – for example auto software and user-interface features. VW says investment in gas-powered engines will continue, expected to peak in 2025, then eventually taper off.
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