VW Exec Says EV Pricing Compared To Gas Cars Is Close To Reaching Parity

The head of the VW brand in North America is Reinhard Fischer, and he has been talking about the market acceptance of electric vehicles. He says when EVs reach price parity with traditional internal combustion engines, that will be the tipping point for the EV industry. And according to Fischer, that the tipping point is closer than ever before.

Fischer believes when pricing parity is reached, new consumers will come to the EV segment, not just the early adopters. He also says that once consumers overcome the early fears of the EV, it will be the better choice for most people. VW has several electric vehicles amongst the 12 brands that are part of the VW group. Brands that are part of that group include Audi, Porsche, and Bentley.

VW has unveiled its first mass-market EV called the ID3. The Launch Edition of the ID3 will sell for under 40,000 euros in Germany before government incentives. An entry-level version of the ID3 will sell for below 30,000 euros, about the same price as a diesel Golf.

Fischer also says that once consumers run the calculations, they will see that the EV is much cheaper to own long-term. He says that owning a full-electric vehicle costs about half that of a gas-powered car to operate. He also talked about some of the big fears with moving to an EV for consumers.

One of the fears he says is driving an electric car through water. He notes that people have been told for decades that electricity and water don't mix. He also says that range anxiety is being replaced by charge anxiety. He says that will pass, noting that a hundred years ago when internal combustion cars were new, gas was sold at pharmacies and was hard to find. Gas later moved to gas stations, and we now have 122,000 gas stations in the States. Charging will reach the same type of broad adoption according to Fischer. VW showed off its ID Vizzion EV concept in 2018 promising a 400-mile driving range.