Volkswagen AG will leverage its global footprint to profitably produce a new all-electric SUV called the ID.4.
The vehicle, which will be produced at five factories on three continents, targets mainstream buyers, starting at $39,995 when it arrives in U.S. showrooms early next year. Pricing excludes an up to $7,500 federal tax credit to purchase electric vehicles.
“This is truly a breathtaking global car,” Scott Keogh, CEO of Volkswagen Group of America, said during a media briefing ahead of the vehicle’s online reveal Wednesday. “I think the upside of that is it’s giving us an awful lot of the scaling effects that we need, which of course is giving us the pricing power and we see a very strong correlation between pricing and adoption to electric vehicles.”
