FRANKFURT, May 28 (Reuters) – Volkswagen
will develop low-cost electric vehicles in a bid to better
compete with fierce Chinese rivals, Europe’s top carmaker said
on Tuesday, after talks with Renault to team up on the
project collapsed earlier this month.

The target is to produce electric vehicles in a price range
of around 20,000 euros ($21,746), the company said, adding a
world premiere was planned for 2027.

($1 = 0.9197 euros)
(Reporting by Christoph Steitz and Christina Amann; Editing by
David Holmes)