The Eurozone’s annual inflation rate for May is expected to be 8.1 percent, up from 7.4 percent in April according to Eurostat, the European Union’s statistical office.
VW Group plans to launch a new range of battery-electric cars for its VW, Skoda and Cupra brands in 2025.
Cupra previewed its small EV with an updated version of the UrbanRebel, a concept car first shown at the 2021 Munich auto show.
Tietz said the latest concept is “very similar” to the final version which will launch in 2025.
The Spanish plant of Seat and Cupra, in Martorell near Barcelona, will build the Cupra EV alongside a VW brand model, potentially named the ID2, and a Skoda version. There will be no Seat version.
The three models will share the same underpinnings: a shortened version of the VW Group’s MEB electric platform.
The 20,000-euros price target for the small EV has long been VW Group’s ambition.
Last September, VW brand CEO Ralf Brandstaetter said the automaker expected the scaling of MEB platform to include small cars and resulting cost savings was the "the key to entering 20,000-euro pricing segment."
He said the target price for the VW-branded small EV would be “between 20,000 and 25,000 euros.”
Under VW Group’s current pricing structure, the VW-brand small EV likely would be priced in the middle of the small EV family, with Skoda’s version likely to be the cheapest.
Cupra’s version would be sportier than those form the other two brands, allowing for it to be priced higher.