Volkswagen launches first ID.4 electric models in China, takes on Tesla and Nio Inc
The German automobile giant, Volkswagen AD launched two ID.4 electric sport-utility vehicle models in China and consequently took over Tesla Inc in the world’s biggest auto market.
The German automobile giant, Volkswagen AD launched two ID.4 electric sport-utility vehicle models in China and consequently took over Tesla Inc in the world’s biggest auto market. The ID.4 CROZZ model is being manufactured by Volkswagen’s joint venture with the FAW Group, while the ID.4 X is being manufactured by a separate merger with SAIC Motor.
The manufacture of the models marks the start of a major thrust by Volkswagen into the electric vehicle market in China and depicts how it’s all set to take on the likes of Tesla and Nio Inc.
The German auto has not yet disclosed the price of the two models but a presentation at the launch of the product hinted that the starting price of the SUVs, which are comparatively larger in size than Tesla’s China-made Model 3 sedans, would be less than 250,000 yuan i.e. $37,450 after electric vehicle subsidies are from the Chinese government. The starting price for Tesla’s Model 3 sedans in China is currently 249,900 yuan after considering subsidies from the Chinese government.
The ID.4 models which are to be manufactured soon will have a driving range above 400 kilometres and will also offer ‘over-the-air software updates,’ Volkswagen executives mentioned at the event.
China’s chief for the auto giant, Stephan Woellenstein said Volkswagen would roll out eight ID family electric models in China by 2023.
Sales of electric, plug-in hybrid and hydrogen-powered vehicles in China are predicted to occupy about 20% of the new car sales by 2025 from just 5% now, the State Council stated on Monday. Around 1.1 million similar vehicles are expected to be sold in China this year.