Volkswagen Pushes for EV Supremacy in Europe with Wallet-Friendly Options
Volkswagen Pushes for EV Supremacy in Europe with Wallet-Friendly Options
Volkswagen aims to extend its lead in Europe’s electric market with a new lineup of compact, affordable EVs, headlined by the ID Cross Concept and due in the first half of next year.
Volkswagen's CEO claims that the German automaker is working to solidify its leadership in electromobility in Europe by launching a new range of small and reasonably priced electric cars. The small all-electric ID Cross Concept car was unveiled over the weekend by Volkswagen, the biggest supplier of electric vehicles in Germany and Europe this year. It will go on sale in the first half of next year.
After the introduction of the ID.2 all, the ID. GTI Concept, and the ID. EVERY1, this is Volkswagen's fourth new electric model.
“We have worked hard during the last years to improve our software, to improve our battery offerings. This family will be the first where we are introducing our unified cell concept in terms of battery,” Volkswagen CEO Oliver Blume told CNBC’s Annette Weisbach on Monday.
“We will be competitive and right now, in Europe, for example, we are a market leader by far in electromobility with 28% market share. This family is another push to making this market share even bigger,” Blume said.
According to Blume, the starting price of Volkswagen's ID. The Cross Concept vehicle will be approximately 25,000 euros ($29,316). His remarks are made just before the start of the IAA Mobility auto show in Munich, where Chinese upstarts are anticipated to compete with faltering European automakers. Despite pressure from U.S. tariffs on the European auto industry, Volkswagen's shares have risen about 12.2% so far this year.
When asked about the fierce competition from Chinese EV competitors, Blume responded that he was up for the task.
“Competition, for me, is very positive. It is like in sport: when you have good competitors, you have to be better. That’s what we have been prepared to do in the last years, in terms of improving ourselves,” Blume said. “I don’t fear the competition,” he added.
The European auto industry is currently facing several challenges, including rising production costs, US tariffs, supply chain disruptions, and regulatory pressures. Ola Källenius, the CEO of the Mercedes-Benz Group, recently stated:
"Our industry is experiencing heavy rain, hail, storms, and snow at the same time."
Blume of Volkswagen praised a recent trade agreement between the United States and the European Union that is anticipated to lower auto import duties in the United States from 27.5% to 15%. Blume stated that the company plans to continue making significant investments in the United States, but the new tariff rate will still be a "burden" for the business.
