Volkswagen is busy building a brand new car, but it’s not the conventional gasoline model, but an electric vehicle which relies on a battery powered motor.

And, it is rumored to be the cheapest offering that an EV lover could go for.

After the diesel emission issue, Volkswagen is definitely in a position where they have to overcome all odds and create a place for them in the automobile market. The company is doing its best by revamping existing models and making them better. But, that is not enough because if emission is the real problem, electric cars could completely eradicate them. VW strongly believes in the motto that has driven them towards building such a cheap car.

On paper, it is going to be a strong competitor for Tesla’s upcoming Model 3 car. Elon Musk, CEO of the company confirmed that they are building a giga factory which is where the Model 3 will be built. It is supposed to be the car that sells in huge volumes and has a low price tag, making it affordable for most buyers.

Volkswagen is rumored to be following the same route, albeit they are going to launch their cheap electric car much earlier than Tesla could. The brand is planning to build it using the 48-volt battery they have and the car should provide at least 300 kilometers on a full charge, roughly 250 miles.

If they get the pricing right, this could easily be the budget friendly electric model that many buyers are looking forward to own. The pricing of the Model X or the Model S is nowhere near the range and hardly interests commuters despite its amazing range. Similarly, the models offered by Chevrolet, Ford among other companies are mostly hybrid or priced much higher than what an average buyer could afford.

VW might change it all! The rumored EV will be built on the existing MEB platform used in their Golf variant. A possible launch date is pegged in the year 2018 which is the same year that Tesla foresee, for the launch of the Model 3.

An official reveal, if not full, is ahead at the Geneva Motor Show, where the CEO of Tesla will reveal the specifications and other details of their budget friendly electric vehicle. Will Volkswagen do the same at this show or at least before the end of this year?

If they do, they will easily put a buyer’s decision on hold, which is good for business.