Volkswagen Taking The EV Market By Storm With The Innovation Of Their ID.3

New ID.3 hatchback from Volkswagen is the most credible innovation yet from the company and will be their biggest stepping stone in the Electric Vehicle (EV) market.

Volkswagen Group’s chief executive officer Herbert Diess commented, “The market has been waiting for our BEV-ramp-up and wanted to see some proof points, so here we are.”

The fully electric ID.3 is based on the company’s electric platform, the Modular Electric Drive Matrix (MEB).

Architecture of the MEB is designed specifically for an electric drive system therefore, with the ID.3 it is able to offer long range driving, plenty of interior space and fantastic performance.

Targeting Europe, the Volkswagen (VW) brand will offer the ID.3 hatchback as the first MEB based electric car into the market and it will be followed by its sibling, also a first purely electric SUV from the company which is the ID.4.

By engineering peak performing batteries under the MEB platform, the costs of the ID.3’s battery cells fall at around USD 100 per kWh. This ranks it to be among the top three worldwide.

Albeit, software platform and ecosystem wise, Volkswagen is still currently behind Tesla but among other established car manufacturers, VW is gripping tightly onto the leading position.

On another note, a research from the UBS Group AG indicates that this platform which underpins all of VW’s EVs are going to be fully cost competitive with the EV pioneer Tesla, and will also have the best-in-class energy density and efficiency.

UBS’s head of European and US auto and mobility research Patrick Hummel said, “The ID.3 is the most credible EV effort by any legacy auto company so far. It is well able to compete with Tesla, and a benchmark for other car manufacturers.”

Furthermore, electric cars from leading manufacturers such as Volkswagen may attain the level of today’s combustion models in terms of costs and profit margins by 2025.

In accordance to that, a total of €35 billion is being invested by the VW Group in hopes to expand their mobility by the said year. 

So far, the company has delivered around 231,600 electric vehicles in the year 2020 and in 2019, more than three times of the figure was achieved. 

Also, the company will be delivering around 70 EVs to the market by 2030 and as of right now, 20 are currently in the midst of production.   

“The analysis of the ID.3 shows that Volkswagen has developed a pure electric platform which is cutting-edge. This enables the group to offer attractive electric vehicles (BEVs) across the entire product range, and to achieve positive earnings (EBIT),” Hummel concluded.

On the time of its release, for every three months, Volkswagen will offer owners of the new ID. vehicles with over-the-air software updates. As well as optimizing software performance, these updates may also contain new functions and customization options.