The New Electric Cars of Volkswagen (ETR:VOW3) to Cost Less, Go Farther Than Tesla

On Tuesday, Volkswagen (ETR:VOW3) unveiled their latest automobile in Paris. Called the I.D., this is a long-range electric car that the company says is going to be miles ahead of competition in terms of both range and cost.

The I.D. will cost about $30,000, which makes it cheaper than the Chevrolet Bolt and Tesla Motor’s (NASDAQ:TSLA) Model 3. The company also revealed at the Paris Motor Show that its range will be much longer than Tesla. On just a single charge, the VW electric vehicle would be able to go 375 miles. However, the car will be available only in 2020, which means the competitors would improve by then.

Both Chevrolet and Tesla’s Range Is Way Less Than Volkswagen

The driving range of Chevrolet Bolt is just 238 miles, much less than the 375 of VW. At the starting price of $37,500, it goes on sale later this year. Model 3 of Tesla, on the other hand, will be available next year, so by 2020 when Volkswagen launches their electric cars, they would have the opportunity to come out with improved versions. At $35,000, it is slightly cheaper than Chevrolet, but its range is even less – just 215 miles.

The I.D. will have light-up VW insignia and super-thin blue tires. When launched, it is going to cost about the same as a VW Golf diesel, which means about $30,000. The Golf is, of course, not on sale at this time because of the emission scandal. Executives at Volkswagen are working with the authorities to resolve the case.

The I.D. isn’t going to be a self-driving vehicle, though. But it will still have hardware like computers and various sensors that can make it an autonomous vehicle later, revealed Jurgen Stockmann, who is a board member with the business. The software is going to be updated later wirelessly to enable its self-driving capabilities.

The I.D. Won’t Have Any Other Versions

Incidentally, Volkswagen has already come out with a couple of electric cars – the e-Up, and e-Golf. However, these vehicles are also available in both diesel and gas engines. The I.D. is going to be the automaker’s first vehicle that will be just the electric version.

In the meantime, Volkswagen (ETR:VOW3) has revealed that the move to make electric cars is likely to cost 10,000 people their jobs in the next few years. The business is increasingly focusing on clean-energy electric cars to move on from the dieselgate scandal.