>> Volkswagen stepping on the accelerator in a plan to get in on the electric car market, and slow down some of Tesla's early momentum. Reuters has learned the German automaker is working on an all electric model that will sell for less than $23,000. At that price, the car would be $12,000 less than Tesla's CEO, Elon Musk, promised.
>> The Standard, well, is gonna be $35,000 for a 220 mile range.>> And has yet to deliver for his mass market Model 3. Sources telling Reuters that a November 16th strategy meeting will discuss Volkswagen's transformation plan to shift from being Europe's largest maker of combustion engine vehicles into a mass producer of electric cars.
The automaker declined a request for comment. But VW, like all German automakers, is feeling the heat as cities start to ban diesel engine vehicles.