(Reuters) – Volkswagen aims to bring an under-$35,000 electric vehicle to the U.S. market in 3-4 years, a senior VW executive said on Thursday.
Speaking at the Reuters Events Automotive USA 2023 conference in Detroit, VW plans to build the under-$35,000 EV in the United States or Mexico, according to Reinhard Fischer, senior vice president and head of strategy at VW Group of America.
VW also is looking at localizing assembly of battery packs for the under-$35,000 EV to qualify for additional incentives under the U.S. Inflation Reduction Act, Fischer said.
“We are not scaling back” plans for EVs in the U.S. market, he said.
(Reporting by Paul Lienert in Detroit; Editing by Mark Porter)