Volkswagen Launches Electric Car Under 30 Million KRW... Accelerating China Market Strategy

German automaker Volkswagen plans to release an electric vehicle priced below 30 million won.

Oliver Blume, Volkswagen's Chief Executive Officer (CEO), stated in an interview with Bild am Sonntag in Germany on the 14th (local time), "We plan to offer an electric vehicle around 20,000 euros (approximately 29.15 million won)" and added, "I believe this is a useful and meaningful goal."

In mid-March, Volkswagen announced plans to launch a compact car, the 'ID.2all,' priced below 25,000 euros (approximately 36.44 million won). At that time, Volkswagen said it was striving to release an electric vehicle priced under 20,000 euros, a commitment that CEO Blume has now reaffirmed.

He particularly emphasized the goal of becoming the strongest automaker in China, a key market. Last year, one-quarter of vehicles sold in China were electric. Volkswagen expects this proportion to expand to 50% within the next two to three years.

CEO Blume said, "Chinese competitors have learned a lot over the past decade, and their pace of innovation is tremendous," adding, "They are utilizing electric vehicles for short-distance travel within large cities."

Meanwhile, Volkswagen's sales in China decreased by 14.5% in the first quarter of this year. Regarding this, CEO Blume explained, "Volkswagen still holds the number one position in internal combustion engine vehicle sales in the Chinese market."

This content was produced with the assistance of AI translation services.