Volkswagen to Initially Incur a $3,340 Loss on Each Electric I.D. Vehicle Sold
【Summary】Starting May 8, Volkswagen will allow customers to place pre-orders for it’s upcoming I.D. EV but celebrations don't seem to be in order just yet. Reports suggest that Volkswagen will be selling first of its I.D. cars at a loss of $3,340 on each car sold.
Starting May 8, German automaker Volkswagen will allow customers to place pre-order deposits for it's upcoming I.D. (name not confirmed) electric vehicle in Europe.
Even though the company is taking its first step into the electric car space alongside fellow automakers BMW, Audi, Mercedes-Benz, and Jaguar, it doesn't seem like celebrations are in order just yet. Reports suggest that Volkswagen will be selling first of its I.D. cars at a loss of $3,340 on each car sold.
Initially, the I.D. will be manufactured in low volume, which might be the reason why Volkswagen would lose so much money on its sales.
It is being reported that initially, Volkswagen will not offer the base version of the I.D. to customers. The base version is expected to go on sale featuring a price tag of around €30,000 (US$33,553).
The I.D. will feature a 48 kWh battery with a likely range of 205 miles or 330 km to meet the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) standard.
In France, the Volkswagen I.D. will also be eligible for a €6,000 government rebate, which will further drop the price down to around €24,000 ($US26,843).
The Volkswagen I.D. electric concept
Volkswagen plans on introducing the mid-range version of its I.D EV, first. This model will be the launch edition and is expected to feature a price tag of around US$44,738.
Powering this mid-range model will be a 62 kWh battery which will offer an all-electric driving range of 280 miles, as per the WLTP standard.
The Volkswagen I.D. is slated to make its global debut at the 2019 Frankfurt Motor Show in September. The company will also introduce a top-of-the-line variant in the future, likely by next year. This car will get an 80 kWh battery capable of delivering 342 miles of range as per the WLTP standard.
Volkswagen also confirmed that all versions of the I.D. will be compatible with 125 kW DC fast chargers, which can fully charge the EV's battery in under 30 minutes.
Reports also suggest that Volkswagen might continue losing money on the I.D. line until 2025.
Manish Kharinta is a automotive writer based in the Los Angeles area. He has worked for automotive industry websites TheSmokingClutch.com, CarDekho.com and CarBikeindia.com. His experience ranges from covering auto shows, to car reviews and breaking automotive news. Manish aims to bring forth his unique perspective on automotive design and technological innovations in the automotive industry.
Is the New Tesla Model Y Ready for the Growing Competition it's up Against?
The Model Y is the First Tesla Model to Use a Heat Pump
BMW Confirms the Next 7 Series Will Come with an Electric, Hybrid, Diesel or Gas Powertrain
Documents Submitted by Tesla in China Hint at a Production Increase at the Company’s Shanghai Gigafactory
The Cadillac Celestiq Will be the Luxury Brand’s New Hand-Built Flagship Sedan
Hyundai's Kona Electric SUV Will Get a Range Boost to 301 Miles Starting This Month
Cadillac Will Reveal its First Ever Electric Vehicle in April
Volvo Trucks' All-Electric VNR Truck Pilot Program is Showcased in California
- Subaru Wants to Sell Only EVs by Mid-2030s
- Ford Motor Company Announces a Fully-Electric Transit Van, it Will Debut as a 2022 Model
- Electric Automaker Tesla is Forced to Reduce its Workforce By 75% at its Fremont, California Factory
- Self-Driving Truck Startup TuSimple Announced Partnership with Auto Supplier ZF for the Production of Autonomous Trucks
- Electrify America to Open its 400th EV Charging Station in the U.S. This Week
- Tesla’s CEO Showcases How EVs Will Talk to Pedestrians
- Kia and Rimac Partner for Halo Performance EV
- Autonomous Vehicle Startup Phantom AI Raises $22 Million in Series A Funding for its Advanced Driver Assistance System
- California's State Assembly is Pushing a Bill to Speed Up the Construction of New EV Charging Sites
- Here Are Some More Details About the Upcoming Tesla Model Y Crossover