The German automaker is confident it can 'stop' Tesla with its upcoming EV platform architecture.

A Volkswagen executive has boldly declared that the company's mass-market electric vehicle will undercut the Tesla Model 3 by at least $7,000.In an Automobil Produktion post spotted by Electrek, VW's chief of corporate strategy, Thomas Sedran, is quoted as saying the vehicle could be up to $8,000 USD cheaper than the Model 3, which would bring the entry price down to just $27,000.

The car will be inspired by the futuristic ID Concept that debuted last year in Paris. The final production design and size will likely be much closer to the current Golf, with an electric range of around 250 miles. The figure is based on the NEDC protocol, which is slightly more generous than EPA-based estimates.

The budget EV will arrive in 2020, giving VW a few more years to wait for battery prices to continue sliding downward. The same MEB platform architecture will then be used for other models, including a compact crossover previewed by the ID Crozz.