Volkswagen may release a small EV for as little as $24,000

In the future, Volkswagen may have a pretty affordable electric vehicle offering in its lineup. According to Reuters, the automaker is working on a pure electric car around the size of a Polo under a project that the company calls “Small BEV (Battery Electric Vehicle).” The publication says Volkswagen is developing the vehicle for the mass market “in anticipation of tougher climate regulations” and that the car will cost anywhere between 20,000 and 25,000 Euros (US$24,000 to $30,000).

That price point would make it more affordable than the ID.3 and the upcoming ID.4 and would make it a direct competitor to one of Tesla’s upcoming models. During its “Battery Day” event in September, Tesla said it’s making changes that would halve the costs of building battery cells for its vehicles. That would allow it to push forward with its plans to build a $25,000 EV within the next three years. Since Reuters only saw Volkswagen’s BEV plans, and the company has yet to confirm it, we’d likely have to wait quite a bit to see it and to find out when it’ll become available.