MUNICH, Germany: Ailing German carmarker, Volkswagen, is hoping that four newly unveiled entry-level electric models will help it achieve a market share of 20 per cent in the sector in Europe, German Press Agency (dpa) reported.
Company boss and Chief Executive, Oliver Blume, said this on Monday, ahead of the IAA automotive industry show.
“We have a clear goal: a leading position in the entry-level segment in our home market of Europe,” Blume said.
With the IAA Mobility show in Munich – one of the largest industry gatherings worldwide – set to kick off on Tuesday, Volkswagen has showcased four new electric models set to hit the market in 2026.
They include the ID Polo, which is expected to launch at prices starting just under €25,000 (USD29,300) as Volkswagen aims to boost electric vehicle (EV) sales.
The group needs a high electric share to meet the EU’s stricter CO2 fleet targets, otherwise it faces hefty fines.
All four sister models will be built in Spain for cost reasons, the company has said.
In 2027, an even cheaper model with the working title ID Every1 is expected to follow for about €20,000 (USD23,450), as a successor to the VW Up, which was discontinued in 2023.
“With this new family of vehicles, we are attacking one of the highest-volume vehicle classes in electric mobility, which has great growth potential,” said Blume, adding that the entry-level segment had enormous potential.
Volkswagen says it is the clear market leader for electric cars in Europe with a 28 per cent market share.
Globally, the group sold nearly 466,000 electric cars from January to July, out of a total of 4.41 million. – BERNAMA-dpa
