VW's ID.2all is a sub-$30,000 EV for the masses

Volkswagen (VOW.DE) achieved something on Wednesday that Tesla (TSLA) couldn’t at its investor day this month — show off a sub-$30,000 electric vehicle (EV).

At an event in Hamburg, Germany, Volkswagen offered a first glimpse of its ID.2all concept, a car that will cost less than 25,000 euros ($26,400) and go into production for the European market in 2025. VW didn't mention whether the car would eventually come to the U.S. (The even smaller, even cheaper ID.1 surely won't.)

"The ID. 2all shows where we want to take the brand. We want to be close to the customer and offer top technology in combination with fantastic design," Volkswagen Passenger Cars CEO Thomas Schäfer said. "We are implementing the transformation at pace to bring electric mobility to the masses.”

Sized between a Polo compact hatchback and a Golf, Volkswagen says the ID.2all will be offered with "improved footprint" from an interior point of view. Generally speaking this means the EV powertrain and battery setup will allow for more interior space.

VW says the ID.2all also "introduces the new design language for our future models" for the auto giant.