Volkswagen Senior Exec Says Looking At Bringing Under-$35,000 EV To US Market In 3-4 Years, Plans Is To Build In US Or Mexico; Also Looking At Localizing Assembly Of Battery Packs For Under-$35,000 EV; "We Are Not Scaling Back" Plans In The US Market
Portfolio Pulse from Benzinga Newsdesk
A senior executive at Volkswagen has announced plans to introduce an electric vehicle (EV) priced under $35,000 to the US market in the next 3-4 years. The company is considering building the EV in the US or Mexico and is also exploring the possibility of localizing the assembly of battery packs for the vehicle. The executive emphasized that Volkswagen is not scaling back its plans in the US market.
November 09, 2023 | 2:58 pm
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POSITIVE IMPACT
Volkswagen's plans to introduce a lower-priced EV in the US market could potentially increase its market share and competitiveness in the EV sector. The decision to possibly manufacture in the US or Mexico could also have implications for the company's operational costs.
The introduction of a lower-priced EV could make Volkswagen more competitive in the US EV market, potentially leading to increased sales and market share. Manufacturing in the US or Mexico could reduce shipping and import costs, potentially improving the company's profit margins.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Volkswagen's plans to introduce a lower-priced EV in the US market could potentially increase its market share and competitiveness in the EV sector. The decision to possibly manufacture in the US or Mexico could also have implications for the company's operational costs.
The introduction of a lower-priced EV could make Volkswagen more competitive in the US EV market, potentially leading to increased sales and market share. Manufacturing in the US or Mexico could reduce shipping and import costs, potentially improving the company's profit margins.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100