Volkswagen may be giving up on the Beetle, but its continuing its quest to regain public trust and modernize its offerings with a new all-electric mid-sized sedan for $23,000.
The German automaker cheated for years on its diesel emission tests, but its pending electric sedan has the name I.D. Aero. According to a Reuters report, it will cost nearly $12,00 less than the basic price of a Tesla Model 3.
Reuters’ sources also reported VW will convert three of its factories in Germany to produce its Modular Electric Drive Matrix (MEB) entry. The carmaker’s goal will to manufacture 200,000 vehicles using the platform to make a family of electric vehicles.
Volkswagen said its goal is selling 10 million by the end of its “first wave,” but it did not provide a time frame. The carmaker said it hopes to debut its first MEB vehicle in 2020.
The international news agency reported VW was set to discuss the new vehicle at a mid-November board meeting.
Volkswagen has also made new partnerships with SK Innovation, a South Korean battery cell manufacturer, and Ford, Reuters reported. Ford and VW have been in exploratory talks to develop self-driving electric vehicles.
Following’s Volkswagen admitted cheating emissions tests and subsequent heavy fines, the European Union and the German government have put pressure on the automaker to improve its reputations with innovative vehicles.