Volkswagen Electrification
A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg (Photo: Reuters / Fabian Bimmer)

Volkswagen has unveiled the ID.3, reportedly the first electric car designed for the masses. The unveiling took place at the 2019 Frankfurt Motor Show.

Priced at $33,180, the ID.3 will have a total of three variants that can carry out 205 to 340 miles of range. This electric car is said to be rolled out mid-2020. The price is expected to be its main attraction.

The price tag that has been reported applies only to the base model of the ID.3 though. The base model comes with 45kWh battery and can run up to 330 kilometers. The prices of the other two variants, however, which are slated to be much more expensive, are not yet known. The company is yet to provide this crucial pricing information, which will be the main consideration point of many, as reported by The Verge.

However, Volkswagen did provide information that these two variants will feature 58kwh and 77kWh batteries, respectively. This translates to the mileage of 420 and 550 kilometers per charge, respectively.

VW stated that the base version of the ID.3 could only charge up to 50kW. Those who to charge at a faster rate should pay extra and get the other versions. The 100kW charging will come with the 58kWh version, and then the 125kW charging will come with the most expensive variant or the top-tier ID.3.

VW is also reported to be offering the ID.3's battery pack with an eight year/160,000-kilometer warranty. According to VW Chief executive Herbert Diess, the ID3 is "not just a new car, it is the beginning of an electric offensive."

Despite the affordable price, or because of it, the ID.3 is anticipated to become a very important product offering of VW. It also resembles the German automaker's widely-popular Golf hatchback. One more important feature of this car is that it will be the first one that uses VW's newest modular all-electric platform. If all goes well, this platform will power future cars and SUVS of the company. It is a crucial platform for the overall plans of the Volkswagen Group's multibillion-dollar objective of penetrating the EV market.

Even though ID.3 may look a lot like an updated Golf externally, VW says it will be massively different inside. Specifically, the ID.3 will be so much roomier on the inside. Some placement strategies allowed for this to happen. Removing the internal combustion engine, placing the electric motor on the rear axle, and then placing the batteries in the vehicle's floor, VW was able to expand the cabin forward.

Despite all these exciting details that must be making many fans worldwide salivate, the company is reportedly not yet thinking of releasing the car in the US at this time or even in China, another great potential market.