Volkswagen has unveiled one of its cheapest electric vehicles to date, as it bets on a series of new launches to boost profits from affordable battery-powered models and compete with Chinese rivals.
The ID.Polo, launched on Wednesday, will retail from about €25,000 and is the standard bearer in a new “family” of four entry-level EVs to be released this year across three Volkswagen Group brands — VW, Škoda and Cupra.
The cars were developed jointly, generating savings of about €650mn by avoiding duplicating work across the brands, said Volkswagen, which is seeking to boost the profitability of its EVs and reduce the cost of producing mass-volume models.
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