Volkswagen plans to launch a new entry-level EV platform in China to keep pace with Tesla and BYD. The automaker will introduce EVs starting at around $20,000 (140,000 yuan) to win back buyers in its most important market.
Competition in the world’s largest EV market is intensifying as price cuts from market leaders like Tesla and BYD are pressuring other automakers.
The Chinese market is very “price-sensitive,” VW China boss Ralf Brandstaetter told reporters Friday, according to Automotive News Europe.
During a visit to its new EV facility in Hefei, Brandstaetter said the new entry-level platform will cater to local Chinese buyers in regards to the battery, electric drive, and motor. Perhaps, more importantly, Chinese buyers are younger and looking for the latest tech and software.
Based on VW’s MEB architecture, used for its existing…