Arabella Asis Auto 03.22.2024 02:Mar AM EDT

Audi Reveals Plans for Lower-Cost EV That Starts at $50,000

Audi announced its plans for a lower-cost electric vehicle (EV) that will sit below the Q4 E-tron and will start to sell at just over $50,000.

The automaker company also shared its aspiration to electrify all core segments by 2027 and have a defined fully electric target portfolio.

GENEVA, SWITZERLAND - MARCH 06: The Audi logo is seen during the 83rd Geneva Motor Show on March 6, 2013 in Geneva, Switzerland. Held annually with more than 130 product premiers from the auto industry unveiled this year, the Geneva Motor Show is one of the world's five most important auto shows.
(Photo : Harold Cunningham/Getty Images)

Audi Unveils New Entry-Level EV That Levels With A3, Q3

Currently, Audi's smallest models are composed of the A3 and Q3 cars after the A1 and Q2 were both retired from the lineup. CEO Gernot Döllner confirmed that the company is launching an "additional electric model below the Q4 E-tron."

Although the company is still finalizing some of the details for the launch, the car is already slated to launch sometime in 2027.

"We won't have a successor for the A1 or Q2, not a direct successor. But with the model below [the] Q4 in the [A3] segment, that will be definitely our entry-level car," Döllner shared.

Global Automakers Remain Positive on the Future of Electric Cars

Despite the mixed reception to EVs, Döllner claimed that the company still believes that the future of the auto industry is electric. Likewise, other automakers are also investing in the development of electric cars.

Previously, Ford announced its plans to launch smaller and more affordable EVs. The company is already working on a new low-cost EV platform with some sources hinting that it would launch in 2026 with a starting price of $25,000.

Tesla is also not stopping anytime soon as the company is reportedly preparing to launch its next-gen EV. The upcoming car, which will be built in Texas, has a starting price of around $25,000.

Other companies like startup Rivian, Volkswagen, and Kia are also working their way to produce a series of low-cost models. Some of the upcoming cars are expected to start from $25,000 to $35,000.