Volkswagen plans to sell electric Tesla rival for less than $23,000 -source

FRANKFURT – Volkswagen intends to sell electric cars for less than 20,000 euros and protect German jobs by converting three factories to make Tesla rivals, a source familiar with the plans said.

Plans for VW’s electric car, known as “MEB entry” and with a production volume of 200,000 vehicles, are due to be discussed at a supervisory board meeting on Nov. 16, the source said.

The November 16 strategy meeting will discuss Volkswagen’s transformation plan to shift from being Europe’s largest maker of combustion engine vehicles into a mass producer of electric cars, another source familiar with the deliberations said.

To free up production capacity for electric cars in Hannover, VW’s transporter vans could be produced at a Ford plant in Turkey, if German labour unions, who hold half the seats on VW’s board of directors, agree, the source added.

The companies are considering cooperation deals in the areas of commercial, electric and autonomous vehicles, although a final agreement will unlikely be announced at the November 16 strategy meeting at Volkswagen, the second source said.

The German carmaker will mainly focus on debating the merits of converting its VW factories in Emden, Zwickau and Hanover, which all build combustion-engined cars, to electric ones under the plans being discussed by the board of directors, the source said.

The shift from combustion engines to electric cars would also cost 14,000 jobs at VW by 2020 as it takes less time to build an electric car than a conventional one and because jobs will shift overseas to battery manufacturers.

This article was summarized automatically with AI / Article-Σ ™/ BuildR BOT™.

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