You have to check VW's BS at times. It did all this blather about the size of the battery investment it was making and then turned around and told its dealer network EVs would only be 15% of the US VW haul in 2025. These people are serious liars. In this case they are saying that despite their no value added dealer drag they will offer a car equivalent to the Model 3 for half the price ("anything Tesla can do") for half the price. They will call it a Neo apparently in tribute to the Chinese maker NIO. But lets look at where they are really at. Today as the last quarter has demonstrated, VW a company in the US not known for making trucks (or really SUVs- some marginal exceptions may apply) a company known for cars is being beat hard core by Tesla in the US on cars, what it essentially does here and that is all of its vehicles are being beat down by Tesla EVs. That is Tesla EVs are beating all of VWs ICE vehicles. But still its going to name its vehicle NIO and will half the price vice the dealer drag and just as good (with no prior evidence of this) and be here with this in a year or two. And if you look at the NEO it is an econo box and following a formula known to fail against the model 3. They are looking to beat the Model 3 and Y with a Bolt.