Skoda plans entry-level electric car for around €25,000, says boss
The Czech VW subsidiary Skoda plans to enter the affordable electric-car segment with a new all-electric small vehicle, according to its boss on Friday.
The vehicle, named Epiq, is set to cost around €25,000 ($27,000) and will be revealed next year, the car manufacturer said.
The design will look completely different from the planned VW ID.2all model, Skoda boss Klaus Zellmer told journalists in Prague.
The vehicle with a "high-up SUV look" will be 4.1 metres long and have a boot with a capacity of up to 490 litres.
"It’s spacious, but it’s very compact from the outside," he said.
In the light of increasing market share from Chinese competitors for battery-powered cars, Zellner said: "We are ready for competition."
"We have seen Japanese competitors coming to Europe, we have seen Korean competitors coming to Europe. And now we see Chinese competitors coming to Europe. We respect them. We just have to be part of the competition. That is what Skoda is all about," he said.
A few months ago, Volkswagen decided not to build a new battery factory in the Czech Republic for the time being.
Zellmer explained the decision saying the transformation process towards e-mobility in Europe is progressing more slowly than was expected a year or two ago.
However, the plans have not completely been called off. "We will restart that discussion, but not on Pilsen, we will then have to look for a different site," he said.
Last year, Skoda said it delivered 866,800 vehicles worldwide, an increase of 18.5% compared to 2022 - despite the withdrawal from Russia due to the war in Ukraine.
Skoda's operating profit rose from €628 million in 2022 to more than €1.7 billion. At 6.7%, the carmaker's return on sales was more than twice as high as in the previous year.
