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Volkswagen reportedly has $23,000 Tesla competitor in the works

Imad Khan
Volkswagen reportedly has $23,000 Tesla competitor in the works

Volkswagen, the German automaker that cheated diesel emissions tests, is aiming to release an all-electric car for $23,000 -- undercutting the Tesla Model 3 by nearly $12,000 -- sources have toldReuters. VW will convert three of its factories in Germany to produce the "MEB entry," with a production target of 200,000 vehicles. The MEB (modular electric drive matrix) platform is being used to develop VW's I.D. family of electric vehicles.