Škoda has surprisingly withdrawn from Volkswagen's planned €20,000 electric car project. Originally intended as a sister model for the VW small car, the Czech brand is now not participating in the project, which is primarily intended to offer a more affordable option for customers on a budget. 🚙💰
Volkswagen $VOW (-0,15 %) would instead like to work with US electric car manufacturer Rivian to reduce costs and make production more efficient. Production of the mini-electric car is expected to take place at the Palmela plant in Portugal. 🏭🌍
Škoda is focusing on the Fabia and other models in the lower price segment, which will continue to serve a profitable niche market. An ambitious move by VW to conquer the "Champions League" of affordable electric vehicles - but also a difficult one. 💡📉 #Elektroauto
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#Škoda
#Rivian
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