Investing.com | Author Michael Elkins
Published Nov 10, 2023 07:44
Volkswagen (ETR:VOWG_p) North America executives attended a Reuters conference Thursday where they revealed to the media that the automaker has plans to bring an under $35,000 electric vehicle to the U.S. market in 3-4 years.
“We are not scaling back plans for EVs in the U.S. market,” said VW SVP, Reinhard Fischer.
Fischer, addressing the audience at the Reuters Events Automotive USA 2023 conference in Detroit, revealed VW’s intention to manufacture the sub-$35,000 EV either in the United States or Mexico.
Possible sites for production encompass VW facilities in Chattanooga, Tennessee, and Puebla, Mexico, alongside a forthcoming South Carolina assembly plant earmarked for VW’s subsidiary, Scout.
According to Fischer, VW is also exploring the possibility of localizing assembly of battery packs for the under-$35,000 EV, aiming to meet the requirements for additional incentives under the U.S. Inflation Reduction Act.
Previously, the German automaker had disclosed its intentions to establish battery cell production in Canada, catering to both its present and upcoming North American-manufactured EVs.
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Written By: Investing.com
