Volkswagen is aiming to bring an electric vehicle to the U.S. market that will cost less than $35,000, and it plans to launch it within the next 3-4 years.
In the U.S., EV adoption has grown significantly over the last few years. In Q3 2023, EVs made up 7.9 percent of the total market share, marking a new all-time record for the U.S.
However, there are still plenty of car buyers who have no intentions of buying an EV, and price is still a big issue for people moving forward, although they have come down substantially.
Many automakers are attempting to offer EVs that are widely affordable and will not break the bank for those who are interested. General Motors has its Chevy Bolt EV that hit a sub-$30,000 price tag, and Tesla is moving toward $30,000, but only after federal and state incentives.
Volkswagen has struggled with its EV efforts in terms of software, but since then, it has offered some competitive EVs, including the ID.3 and ID.4, which share segments with the Model 3 and Model Y, respectively.
However, the German automaker has not tasted the success it expected, and sales have been relatively underwhelming. It feels that in the U.S., a more affordable EV option for consumers will perhaps help to surge sales and demand.
At the Reuters Events Automotive USA 2023 conference in Detroit, Senior VP and Head of Strategy at Volkswagen Group of America Reinhard Fischer said that Volkswagen will do exactly that.
The company will not only build an EV that costs less than $35,000, but it also plans to localize the assembly of battery packs to qualify for Inflation Reduction Act incentives, helping the car qualify for the full $7,500 tax credit.
Some EVs have only qualified for half of that amount because they are not completely assembled in North America. For 2023, only 50 percent of the vehicle’s battery must be assembled or manufactured within North America.
This requirement increases by 10 percent annually until 2029, when the entire battery pack must be assembled and manufactured in North America to receive half of the $7,500 credit.
There was some speculation on whether VW would start to slow down its EV efforts as many legacy automakers have struggled with scaling their production, resulting in huge financial losses.
Fischer said that VW had no plans to scale back EVs in the U.S. market.
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Investor's Corner
Tesla Board member and Airbnb co-founder loads up on TSLA ahead of robotaxi launch
Tesla CEO Elon Musk gave a nod of appreciation for the Tesla Board member’s purchase.

Tesla Board member and Airbnb Co-Founder Joe Gebbia has loaded up on TSLA stock (NASDAQ:TSLA). The Board member’s purchase comes just over a month before Tesla is expected to launch an initial robotaxi service in Austin, Texas.
Tesla CEO Elon Musk gave a nod of appreciation for the Tesla Board member in a post on social media.
The TSLA Purchase
As could be seen in a Form 4 submitted to the United States Securities and Exchange Commission (SEC) on Monday, Gebbia purchased about $1.02 million worth of TSLA stock. This was comprised of 4,000 TSLA shares at an average price of $256.308 per share.
Interestingly enough, Gebbia’s purchase represents the first time an insider has purchased TSLA stock in about five years. CEO Elon Musk, in response to a post on social media platform X about the Tesla Board member’s TSLA purchase, gave a nod of appreciation for Gebbia. “Joe rocks,” Musk wrote in his post on X.
Gebbia has served on Tesla’s Board as an independent director since 2022, and he is also a known friend of Elon Musk. He even joined the Trump Administration’s Department of Government Efficiency (DOGE) to help the government optimize its processes.

Just a Few Weeks Before Robotaxi
The timing of Gebbia’s TSLA stock purchase is quite interesting as the company is expected to launch a dedicated roboatxi service this June in Austin. A recent report from Insider, citing sources reportedly familiar with the matter, claimed that Tesla currently has 300 test operators driving robotaxis around Austin city streets. The publication’s sources also noted that Tesla has an internal deadline of June 1 for the robotaxi service’s rollout, but even a launch near the end of the month would be impressive.
During the Q1 2025 earnings call, Elon Musk explained that the robotaxi service that would be launched in June will feature autonomous rides in Model Y units. He also noted that the robotaxi service would see an expansion to other cities by the end of 2025. “The Teslas that will be fully autonomous in June in Austin are probably Model Ys. So, that is currently on track to be able to do paid rides fully autonomously in Austin in June and then to be in many other cities in the US by the end of this year,” Musk stated.
News
Stellantis unveils solid-state battery for EVs
Stellantis validated solid state battery cells for EVs: ultra-dense, fast-charging, and AI-optimized. Launching demo fleet by 2026.

Stellantis N.V. and Factorial Energy have validated Factorial’s automotive-sized FEST® solid-state battery cells, a major milestone for next-generation electric vehicle (EV) batteries. The breakthrough positions Stellantis and Factorial to advance EV performance with lighter, more efficient batteries.
“Reaching this level of performance reflects the strengths of our collaboration with Factorial.
“This breakthrough puts us at the forefront of the solid-state revolution, but we are not stopping there. We continue working together to push the boundaries and deliver even more advanced solutions, bringing us closer to lighter, more efficient batteries that reduce costs for our customers,” said Ned Curic, Stellanti’s Chief Engineering and Technology Officer.
The 77Ah FEST® cells achieved an energy density of 375Wh/kg, supporting over 600 cycles toward automotive qualification. Unlike lithium-ion batteries, these solid-state cells charge from 15% to over 90% in 18 minutes at room temperature and deliver high power with discharge rates up to 4C. Factorial’s AI-driven electrolyte formulation enables performance in temperatures from -30°C to 45°C (-22°F to 113°F), overcoming previous solid-state limitations.
“Battery development is about compromise. While optimizing one feature is simple, balancing high energy density, cycle life, fast charging, and safety in an automotive-sized battery with OEM validation is a breakthrough,” said Siyu Huang, CEO of Factorial Energy. “This achievement with Stellantis is bringing next-generation battery technology from research to reality.”
The collaboration optimizes battery pack design for reduced weight and improved efficiency, enhancing vehicle range and affordability. Stellantis invested $75 million in Factorial in 2021 and plans to integrate these batteries into a demonstration fleet by 2026. This fleet will validate the technology’s real-world performance, a critical step toward commercialization.
The milestone aligns with Stellantis’ push for sustainable EV solutions, leveraging Factorial’s disruptive technology to meet the rising demand for high-performance batteries. As the companies refine pack architecture, the validated cells promise faster charging and greater efficiency, potentially reshaping the EV market. With the demonstration fleet on the horizon, Stellantis and Factorial are poised to lead the solid-state battery push, delivering cost-effective, high-range EVs to consumers.
News
Tesla China vehicle registrations rise 51% in April’s fourth week
In the week ending April 27, Tesla China saw 10,300 new vehicle registrations.

Tesla China’s new vehicle registrations saw a notable rise in the week of April 21-27, 2025. Over the week, the electric vehicle maker’s registrations saw an impressive 51% week-over-week rise, suggesting that domestic vehicle deliveries are on the rise once more.
Tesla China Results
In the week ending April 27, Tesla China saw 10,300 new vehicle registrations. This represents a notable rise from the company’s registration numbers in the past weeks of April. For context, Tesla China saw 3,600 registrations in the week ending April 6, 5,400 registrations in the week ending April 13, and 6,780 registrations in the week ending April 20, 2025.
Considering that April is the first month of the second quarter, expectations were high that Tesla China was allocating Giga Shanghai’s output for vehicle exports. With 10,300 registrations in the week ending April 27, however, it would appear that the company’s domestic deliveries are picking up once more.
Tesla China does not report its weekly sales figures, though a general idea of the company’s overall perforce in the domestic auto sector can be inferred through new vehicle registrations. Fortunately, these registrations are closely tracked by industry watchers, as well as some local automakers like Li Auto.
Tesla Model 3 and Model Y in Focus
Tesla China produces the Model Y and Model 3 in Giga Shanghai. Both vehicles are also exported from China to foreign territories. As per industry watchers, it would appear that both the Model 3 and Model Y saw an increase in registrations in the week ending April 27.
The Model 3, for one, appears to have seen 3,200 registrations in the week ending April 27, a 14% increase from the 2,800 that were registered in the week ending April 20. For context, Tesla China saw just 1,500 new Model 3 registrations in the week ending April 13 and 1,040 registrations in the week ending April 6.
The Model Y, on the other hand, saw 7,100 registrations in the week ending April 27. That’s a 77.5% increase from the 4,000 that were registered in the week ending April 20. Tesla also saw 3,900 registrations in the week ending April 13, and 2,540 registrations in the week ending April 6, 2025.
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