CEO Volkswagen Passenger Cars Ralf Brandstaetter speaks during Volkswagen ID. Life car presentation ahead of the Munich Motor Show IAA Mobility 2021 in Munich, Germany, September 6, 2021. Volkswagen on Monday (September 6) took the wraps off the ID LIFE, a fully electric small car to be launched in 2025 at a cost of around 20,000 euros ($23,730) in a bid to make battery-powered cars affordable for the masses and younger generations. REUTERS/Wolfgang Rattay

Volkswagen ID. Life car is seen during a presentation ahead of the Munich Motor Show IAA Mobility 2021 in Munich, Germany, September 6, 2021. "The ID LIFE is our vision of next-generation fully electric urban mobility," Volkswagen brand CEO Ralf Brandstaetter said at the IAA Munich car show. REUTERS/Wolfgang Rattay

Volkswagen Passenger Cars CEO Ralf Brandstatter speaks during a world premiere of Volkswagen ID. LIFE car ahead of the Munich Motor Show IAA Mobility 2021 in Munich, Germany, September 6, 2021. The ID LIFE, which is at a concept car stage, is a key pillar of Volkswagen's goal to become the world's top seller of electric vehicles (EV) by 2025 and dethrone Tesla in part by commanding lower prices. REUTERS/Michaela Rehle

A detail of Volkswagen ID. LIFE car is seen ahead of the Munich Motor Show IAA Mobility 2021 in Munich, Germany, September 6, 2021. Similar in size to Volkswagen's Polo, the ID LIFE will be built by the company's Spanish SEAT division and is based on the company's dedicated EV platform, according to a VW spokesman. REUTERS/Michaela Rehle

Volkswagen ID. Life car is seen during a presentation ahead of the Munich Motor Show IAA Mobility 2021 in Munich, Germany, September 6, 2021. REUTERS/Wolfgang Rattay

Volkswagen ID. Life car is seen during a presentation ahead of the Munich Motor Show IAA Mobility 2021 in Munich, Germany, September 6, 2021. REUTERS/Wolfgang Rattay