To challenge Volkswagen, Weilai will launch models under 30,000 euros in the European market.

CTOnews.com May 5 news, Wei Lai car founder Li Bin in an interview with Germany "Der Spiegel" said that has been fully prepared in the European market, will provide European customers with less than 30000 euros of electric vehicles, and is expected to achieve profit targets this year.

In the interview, Li Bin expressed respect for big European brands such as Mercedes Benz, BMW and Audi, but also made it clear that he would challenge Volkswagen in the European market.

Weilai's cars have been officially launched in Germany, with good customer feedback, and the company will launch two other brands in the European market in the future. One of them will offer only small, cheap electric cars priced under 30000 euros (CTOnews.com notes: currently around 229,000 yuan).

Li Bin also said in the interview that in the Chinese market, he is not afraid of a price war with Tesla. He believes Tesla's actual market share in China is no more than 10%, unable to influence market pricing; second, our flagship model is $20000 higher than Tesla (CTOnews.com note: currently about 138,000 yuan), which is not our core market segment.

CTOnews.com attaches a link to the original interview here. Interested users can click to read it.