Volkswagen walks away from the negotiating table to create its own cheap EV
VW and Renault have spent months negotiating the terms of an agreement to work together to create a sub-€20,000 EV. Insiders now report that the talks have broken down, and the companies will not work together. Each brand will now develop its own inexpensive EV. Volkswagen and Renault have not been able to come to an agreement regarding collaboration on an inexpensive electric vehicle, and now the two automotive giants will have to go their own way.
Sources say VW's decision to walk away from the negotiating table was prompted by its decision to develop a platform on its own, which would mark its latest change in attitude. A year ago, the German automaker was feeling bold about the cost savings its new in-house developed batteries would bring, and claimed that its upcoming €25,000 EV will be profitable, and that a €20,000 EV would even be possible.
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