Volkswagen plans to launch a new entry-level EV platform in China to keep pace with Tesla and BYD. The automaker will introduce EVs starting at around $20,000 (140,000 yuan) to win back buyers in its most important market.
Competition in the world’s largest EV market is intensifying as price cuts from market leaders like Tesla and BYD are pressuring other automakers.
The Chinese market is very “price-sensitive,” VW China boss Ralf Brandstaetter told reporters Friday, according to Automotive News Europe.
During a visit to its new EV facility in Hefei, Brandstaetter said the new entry-level platform will cater to local Chinese buyers in regards to the battery, electric drive, and motor. Perhaps, more importantly, Chinese buyers are younger and looking for the latest tech and software.
Based on VW’s MEB architecture, used for its existing lineup of EVs, the new platform will use local suppliers to cut costs.
Brandstaetter added the new platform, slated for 2026, will improve development times by a third.
With plans to introduce ten new EVs globally by 2026, Volkswagen wants to accelerate development time to keep pace with Chinese automakers. It aims to launch new models in around 2.5 years, compared to its current four-year cycle.
Volkswagen ID electric vehicles in China (Source: VW)
The company is already having some success lowering costs already. Ludger Luehrmann, CTO of Hefei (Volkswagen Group China Tech Company), which is developing the platform, said the company can lower the price of the dashboard display by 37% after switching suppliers.
Volkswagen to introduce $20,000 EVs in China
Legacy brands (like VW and Audi) that have long dominated the market are now being swapped for domestic brands with more modern tech. And many times, these EVs come at a lower price.
VW lost its long-standing title of best-selling brand in China to BYD earlier this year as buyers look for the latest EVs.
SAIC-VW ID.3 electric car in China (Source: SAIC-VW)
China is VW’s most important market, accounting for nearly half its profits. Its top-selling electric model, the ID.3, ranked 22nd among Chinese EVs this year. And that’s after slashing prices by 16% to around $17,500 (125,800 yuan) in August.
The lower prices helped boost demand, with ID.3 sales reaching 10,000 in July compared to an average of around 2,200.
The automaker will use this strategy with its new archetecture, called A Main Platform. Volkswagen plans to launch four new EVs priced from around $20,000 (140,000 yuan) to $23,800 (170,000 yuan).
Volkswagen-SAIC ID.Next electric sedan (Source: Volkswagen-SAIC)
The new VW models will be built by its joint ventures with SAIC and FAW, Brandstaetter said. The company invested around $1.1B (1B Euros) to establish VCTC, which will be key in regaining market share.
The facility uses local suppliers and involve VW’s joint venture partners to accelerate development times. VW China’s boss explained this will cut out “time-consuming coordination across time zones with developers in Germany.”
He added this will enable VW to “shorten the time it takes to bring products to Chinese cutsomers by 30%.”
FAW-VW ID.7 Vizzion (Source: Volkswagen)
The automaker opened ID.7 Vizzion orders in China this week, starting at $33,000. The Vizzion is FAW-VW’s version of the flagship electric sedan built for China.
Volkswagen also began producing batteries at its Hefei factory. The plant will be the first to manufacture cell-to-pack (C2P) batteries, which will help improve energy density and efficiency.
Electrek’s Take
With VW’s price cuts helping to boost demand in China, the company is taking notes. VW now plans to double down and introduce four new EVs priced around $20,000 to regain buyers in its most important market.
VW will need to with low-cost EVs like BYD’s Dolphin, starting at about $16,100 (116,800 yuan) and Yuan Plus electric SUV at about $18,500 (134,000 yuan). BYD sold around 30K Dolphin models in May, about 11 times the ID.3.
BYD’s 6 millionth NEV (including hybrids) rolled off the line Friday as the automaker aggresively expands the brand.
T o regain competitiveness, VW invested $700 million into Chinese EV maker XPeng for a nearly 5% stake in July.
Although the brand expects new models built with XPeng will help sales, CFO Arno Antilitz explained VW could lose further market share until they hit the market (from 2026).
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Logo of the Organization of the Petroleum Exporting Countries (OPEC)
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.
U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.
The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.
The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.
Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.
Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.
“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.
Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.
Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
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Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
ComEd press conference at Chicago Drives Electric, 2024; by the author.
Bodo G-Wagon electric golf cart; via Mecum Auctions.
With a fully-enclosed, G-Wagen-inspired body and an 80 mile electric range, the Bodo G-Wagon golf cart is the NEV you need when you decide it’s time to get serous one-upping the rest of the Palm Beach country clubbers.
The shiny black 2024 Bodo G-Wagon sold at Mecum Auctions last month for $31,900, which seems like it might not be a lot of money to the sort of person who decides to take a flyer on a goofy, limited-use EV that ships with real, metal doors, power windows, heating and air conditioning, fully digital instrument cluster and infotainment, and a “posh,” caramel leather interior.
It even has windshield wipers, power steering, and a rear-seat entertainment system that’s built into the front headrests!
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It’s really nice in there
Under the hood, the Bodo packs a 15 kW (20 hp) electric motor drawing power from a 10 kWh li-ion battery that won’t deliver a scorching 0-60 mph time (it only goes 35), but will deliver you and your buddies from one end of any golf course in North America and back several times over, thanks to the G-Wagon’s 80 mile range.
The official Mecum Auctions listing goes into a bit more detail, and I’ve included it here, in case it gets deleted after a while and you’re just finding this for the first time in 2027:
Be the envy of any country club or golf community showing up with this 2024 Bodo G-Wagon Golf Cart. Perhaps more appropriately known as an E-Wagon, this baby G-Wagon is powered by a 15kW motor with a 10kWh lithium battery. Boasting an 80-mile range and a 35 MPH top speed, the Bodo is an enclosed, luxury golf cart that pampers occupants with heating and air conditioning, rear-seat entertainment, power windows, power locks and a posh, caramel-colored interior. With the Bodo fitted with power steering and 4-wheel power disc brakes with brake boost, drivers will think they’re in a full-size G-Wagon, thanks to the multiscreen entertainment cluster, the rearview camera, windshield wipers, turn signals, running lights and so much more.
Finished in black with the right amount of brightwork, the overall vibe is one of jaw-dropping, smile-inducing fun. While the Bodo would be an excellent choice for any golf community, it should also prove to be hugely popular around a race track or car condo community as well, or maybe even a neighborhood with its own airplane runways. Over the past decade in particular, the demand for unique, luxury golf carts has been on the rise, and understandably so. The number of luxury communities with specific interests in sports, aero and auto has also been on the rise, with people buying homes in these exclusive locations to better engage with like-minded people. All too often a golf cart is the perfect way to get around these gated neighborhoods, and this one is enclosed, comes with the amenities of a full-size car and is infinitely more stylish.
You can check out a few more photos of the 2024 Bodo G-Wagon golf cart that sold at Mecum, below – and if you want one for yourself, you’re in luck! I found this brand-new 2025 “G600 E-Wagon” (in white) for $23,900 at Gulf Carts in Santa Rosa Beach, Florida. Head on down to the comments and let us know if you buy it.
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