Volkswagen CEO Thomas Schäfer officially announced that the German automaker plans to preview a new electric model during its presentation on March 15.
“Over recent months, we have been working tirelessly on our brand and our products. We’ll be presenting a car that not only gives a specific preview of a new electric model from the Volkswagen brand but also introduces the new design language for our future models,”” said Schäfer.
Last week, Volkswagen invited the world to join its livestream on March 15 at 6:20 pm CET. The company used the hashtag #VWforthepeople to promote the event.
Volkswagen is expected to unveil the ID.2 EV hatchback during the livestream, but it hasn’t confirmed the rumors yet. The all-electric ID.2 hatchback’s design is based on the iconic VW Golf, a popular car in Europe. The Volkswagen ID. 2’s price tag is estimated to start at €22,500 ($23,823), a competitive price in the EV market. Sales of the ID.2 are scheduled to begin in 2025.
Making EVs More Affordable
The ID. 2’s €22,500 ($23,823) makes it a very affordable electric vehicle, enough to compete with the likes of the Chevrolet Bolt. Even more intriguing, though, is the ID. 2’s price could give it a competitive edge against Tesla’s upcoming $25,000 Model 2.
Analyst Ferdinand Dudenhoeffer believes that Volkswagen sees Tesla as its main competitor in the EV industry. Recently, it announced a price drop for its new ID.3 vehicle, putting it in the competitive space of the Tesla Model Y. Volkswagen appears to have similar plans for the ID.2.
During Investor Day 2023, Tesla shared information that showed its future plans and trajectory. Tesla’s department heads all provided bits and pieces of information, teasing the company’s next-gen platform and future vehicles. Volkswagen’s March 15 livestream is following a similar path.
“Along with Imelda Labbé, Board Member for Sales and Marketing, Kai Grünitz, Board Member for Technical Development and Andreas Mindt, Head of Design, we show you specifically how we’ll be positioning Volkswagen for the years ahead,” VW’s CEO said about the March 15 livestream.