Volkswagen plans to sell 25 all-electric models in the US by 2030, all of which will qualify for a $7,500 federal tax credit under new Inflation Reduction Act (IRA) rules ), VW’s top US executive said in an interview with Bloomberg. through European Automotive News).
“We have a great opportunity in the US,” VW Group America CEO Pablo Di Si said in the interview. “I believe this is the right time and the right place.”
Volkswagen ID.4 built in Chattanooga
The IRA requires the assembly of vehicles and their battery packs in North America, and sets requirements for battery raw materials. VW has planned that 80% of the 25 new electric vehicles it plans to introduce by 2030 will be assembled in the US or Mexico, which will check one of the tax credit boxes. But it will need to do the same for all electric vehicles, or possibly assemble the remaining 20% in Canada, where the company last month announced an EV . battery factoryto qualify for the full amount of the credit.
Automotive News Europe thinks this is another attempt by the VW Group to increase market share in the US. The company is targeting a 5% market share for its namesake brand by 2030, up from 1.8% today, the publication noted, and 10% for the luxury brands Audi and Porsche in the same timeframe. time. Previous efforts including, within the last decade alone, opening a US plant in Chattanooga, Tennessee, and shifting the VW lineup to a more SUV-focused focus still leaves VW behind manufacturers export other cars.
Volkswagen ID.4 built in Chattanooga
ID.4 currently VW’s only US-made EV—and the only one that could qualify for the $7,500 tax credit. VW has promised that the ID.4, currently built in Chattanooga, will take over mainstream models like the Honda CR-V and Toyota RAV4 as part of the “”for millions of people, not just millionairesThe EV mantra. VW now plans to spend $7 billion to expand production of electric vehicles in the US, adding ID.Buzz by 2024 and mid- and large-size electric SUVs after, according to Automotive News Europe.
The VW Group also has Scout, a new brand that is expected to build sturdy electric trucks in the spirit of the classic International Scout off-road vehicle, but it is being run as an independent company. in U.S.A. The first Scout model, an electric SUV worth $40,000will be unveiled in 2024 and begin production in 2026 at a new plant in South Carolina.
