An anonymous reader shared this report from the Telegraph:

Volkswagen has teased plans for a "China-killer" electric vehicle that will cost just €20,000 ($20,664 USD or £16,700) as the German carmaker gears up to take on a flood of Beijing-backed low-cost rivals. The company on Thursday shared its first images of a new vehicle expected to be called the ID.1, which will go into production from 2027.

The low-cost EV is intended to go head to head with all-electric brands from Chinese carmakers such as BYD, which overtook Tesla in British sales for the first time last month. Previous images of the vehicle suggest it will be an electric hatchback. Thomas Schäfer, the VW chief executive, said the new model would be "an affordable, high-quality, profitable electric Volkswagen from Europe, for Europe". Quentin Willson, the motoring journalist and founder of FairCharge, said the car could be a "possible China EV killer". Dan Caesar, of Electric Vehicles UK, added: "Cheaper EVs are exactly what legacy auto-makers need to be competitive during this critical time. We would expect the ID.1 to be warmly welcomed by motorists." Ginny Buckley, of consumer advice website Electrifying, said Volkswagen had been "clear about its intent to compete with China's low-cost EVs"...

The German carmaker is planning to cut 35,000 jobs by 2030 as it grapples with stalled demand for EVs in Europe and growing competition from Chinese rivals.
Volkswagen executives describe the upcoming EV will be a "true Volkswagen for everyone," according to the article
It also notes that the number of EVs sold across Europe "fell by 3% to 3 million during 2024, according to data from analysts Rho Motion."

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