VW exec: EV price parity'tipping point' is near

The company expects buyers to quickly switch to EVs.

Volkswagen's North America strategy chief, Reinhard Fischer, has reaffirmed the company's belief that EVs will soon reach price parity with internal combustion vehicles.

"We strongly believe that the tipping point is near, and that tipping point will be price equity," he told Automotive News Europe. "Once you overcome the fear of something new, the EV is the better choice for you."

The German automaker has made a big bet on electrification in the wake of the diesel emissions scandal, committing $50 billion to launch an EV onslaught across all of the group's brands.

Fischer says there are still a few customer concerns that will be gradually overcome. EVs that can drive for hundreds of miles have helped alleviate range anxiety, though "charging anxiety" is said to be a problem and people still retain a fear about driving EVs through water.

For now, Volkswagen is still months away from bringing its Golf-sized ID.3 hatchback to market. The company plans to ramp up its product launches, filling its lineup with dozens of all-electric models in the next decade.