News ID: 234023
Published: 1031 GMT November 10, 2018

Volkswagen is looking to take on tesla's model

Volkswagen is looking to take on tesla's model
Published by thestreet.com

By Bret Kenwell*

No one thought they could do it, but Tesla found a way to make electric vehicles safe, fun and beautiful.

The Model S, X and 3 are the three safest cars ever tested by the National Highway Traffic Safety Administration. Performance isn't a question either, with impressive battery degradation and speeds that can top most high-end production vehicles whose price tags run significantly higher and at times, in multiples, of a Tesla, thestreet.com reported.

Tesla's vehicles look great too, unlike many of the other all-electric vehicles we've seen hit the road over the last decade. So while many people inside and outside the industry want to take shots at Tesla, it's hard to deny that the automaker has completely turned this electric vehicle space on its head.

It's gone from other automakers ignoring Tesla, to observing Tesla, to now chasing Tesla. The question is, can they catch them?

The latest automaker to throw its hat into the ring is Volkswagen. The company has been in the news lately, as it continues to negotiate a partnership with Ford Motor to take advantage of various synergies. We don't quite know for sure what that partnership might look like, but we do know the direction Volkswagen is heading in.

The company is reportedly looking to sell an electric vehicle for ‘less than’ 20,000 euro (roughly $22,800), according to Reuters.

Known as the ‘MEB Entry’, Volkswagen reportedly wants to convert three German production plans to produce the electric vehicles (EVs) and plans to produce 200,000 models. Can it get there?

For anyone who thinks of Volkswagen as a small-time producer, think again. While the name isn't as popular here in the US as Ford or General Motors' Chevrolet, Volkswagen produced just under 11 million units in 2017. To put that in perspective, the annual sales rate in the US continues to hover around 17 million units.

Also worth pointing out is that Volkswagen has a number of brands under its umbrella. Bentley is a leader in the electrification movement among ultra high-end luxury cars, while Audi and Porsche are also making moves in the space.

 

*Bret Kenwell is a freelance writer for TheStreet.

   
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