The electric vehicle industry seems to be growing every year, but regardless of the automotive brand that develops them, these vehicles typically come with a not-so-wallet-friendly price tag.
Recently, it was reported that Volkswagen wants to invest 180 billion Euros to develop electric automotive technology that will allow them to reduce the cost of developing these vehicles, ie lower the price tag when they come out on the market.
This investment, which will take place over five years, will see Volkswagen not only develop their second-generation MEB drive technology, but also invest 15 billion Euros to source electric vehicle battery materials. According to Volkswagen, 40 percent of the cost of developing an electric vehicle is consumed by the car's battery.
Volkswagen also said that they want to try to develop electric vehicles at a more affordable price, at a price of around 25 thousand Euros in 2025.
This is not surprising because the European Union has issued a mandate that only electric vehicles are allowed to be owned as personal vehicles starting in 2035.
