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Sept. 4, 2020, 1:57 p.m. EDT

New EV Crossover Designed to Meet the Needs of Budget Shoppers

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Sep 04, 2020 (NetworkNewsWire via COMTEX) -- One of the biggest obstacles to the widespread adoption of electric vehicles ("EVs") is price. Even though most developed governments have introduced federal tax relief to make EVs more affordable, they are still too high priced for a large chunk of the population. While automakers like Tesla and BMW seem to be catering to customers from a higher tax bracket , Volkswagen AG /zigman2/quotes/204431732/delayed VWAGY -2.34% is committed to making electric vehicles that can be afforded by the average consumer.

Volkswagen's generation of affordable EVs, denoted by names starting with "ID", allows customers who traditionally wouldn't have been able to afford an electric vehicle to become EV drivers. The first of these models, the Volkswagen ID.4 , is due to arrive in the U.S. by the end of this year and according to the automaker, is not meant to compete with Tesla Inc.'s Tesla Model Y . Volkswagen is looking to corner the crossover...

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COMTEX_370716964/2557/2020-09-04T13:57:15

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/zigman2/quotes/204431732/delayed
US : U.S.: OTC
$ 19.16
-0.46 -2.34%
Volume: 116,408
Nov. 27, 2020 12:58p
P/E Ratio
20.59
Dividend Yield
1.91%
Market Cap
$92.68 billion
Rev. per Employee
$421,269
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