EU Launches Affordable Electric Vehicle Class to Boost Local Manufacturing
The European Union is set to introduce a new class of affordable electric vehicles (EVs), dubbed 'e-cars', as part of its broader industrial policy. The EU Commission aims to make these EVs more accessible with a target price of around 15,000 euros. The automotive industry has welcomed this news, but urges for more planning certainty.
The new 'e-car' category is designed to be compact, with dimensions between 3.50 and 3.80 meters in length and a weight of about one ton. It will have two subcategories under discussion. European manufacturers, facing competition from cheap Chinese EVs, hope this initiative will help them re-enter the affordable city car segment.
Fifteen years ago, there were around 60 models of small and small city cars in Germany alone, with a market share of nearly 25%. This has since fallen to less than 14% due to price increases. The EU Commission aims to reverse this trend with the introduction of the new e-car category.
Volkswagen is likely to produce an electric car fitting this new segment. The ID Polo, an affordable option, is planned to compete in the market at a price equivalent to about 23,500 Swiss francs. However, there may be discussions regarding safety standards to balance affordability without compromising road safety.
The EU's initiative to create an affordable electric vehicle category is a significant step towards reducing Europe's dependence on imports and promoting local manufacturing. With major players like Volkswagen expressing interest, the new e-car segment could revitalize the market for affordable city cars. However, the success of this initiative will depend on careful planning and balancing of affordability with safety standards.
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