Volkswagen is working on an entry-level electric vehicle that will sell for a base price of €20,000 ($21,000). The company has already given its own employees a look at its initial design during a meeting in Wolfsburg,

It could be the ID.1, a car VW has promised since 2022.

Faced with high domestic costs, stuttering demand for EVs and increasing competition from lower-cost Chinese makers, Volkswagen outlined a five-year plan for its namesake brand.