Volkswagen coming for Tesla with cheaper EV fleet by 2020: report

The promised $35,000 Tesla Model 3 is still some months away from production, but Volkswagen is reportedly readying a competitor that will come in well below that number.

Reuters reports that the automaker is planning a model for its ID range of electric cars priced below 20,000 euros, which is just under $23,000, citing a source within VW. The model codenamed “MEB entry,” with a planned production volume of 200,000 units annually, is expected to be discussed at a Nov. 16 supervisory board meeting by the automaker, according to the source cited by Reuters. The source also indicated that another MEB platform model, codenamed “MEB Aero,” will be built at a factory that currently produces the Passat.

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