INTERNATIONAL – The move to electric vehicles will make cars significantly more expensive, meaning they may become unaffordable for people on low incomes in the future, the chairperson of Volkswagen said in an interview published on Sunday.
The German carmaker is still reeling from a 2015 scandal over cheating on emissions tests and needs to ramp up production of electric vehicles to meet toughened European emissions-cutting targets.
“We have the clear goal of making electromobility accessible to a broad section of the population, that is to make it affordable,” Hans-Dieter Poetsch told the Welt am Sonntag newspaper.
But he said it could be difficult to maintain the prices of many entry-level vehicles.
“The current price level cannot stay the same if these cars are equipped with electric motors,” said Poetsch. “Therefore, it will inevitably lead to significant price increases in the small car segment.”