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Volkswagen seeks to counter rivals with budget EV model
The model will offer more than 155 miles of range and is the “last piece of the puzzle” for VW’s next-generation lineup, said Thomas Schaefer, CEO of the brand.
Tech enthusiasts and subsidies helped bolster a first wave of EV growth, but demand has stagnated on a dearth of affordable models, rising inflation and high electricity costs. VW’s tumbling sales were accompanied by a painful restructuring hammered out with unions in 2024, making it “one of the most challenging years of Volkswagen’s history,” Schaefer said at an event in Düsseldorf, Germany. VW’s more affordable models won’t be ready in 2025, which means Europe’s biggest automaker has a tighter window to ramp up sales and meet the European Union’s carbon dioxide emissions targets.
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