VW is going after the EV market. Trying to undercut Tesla imho.

The goal is to build 22 million battery electric vehicles, or BEVs, over the next decade, up from a previous target of 15 million, he said. The move is widely expected to put a strain on the German automaker’s bottom line. Profit margins on electrified vehicles are significantly below conventionally powered products with many all-electric models sold at a loss, according to industry analysts.

and

While specific details haven’t been released, the automaker has broadly hinted that it will target the low end of the market. Juergen Stackmann, VW’s board member overseeing sales, said it will be priced between $24,000 to $32,000, depending upon the size of its battery pack. The cheapest version will provide 206 miles of range.

I’m holding out for the diesel electric…

cnbc.com