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No Volkswagen US name change as sources say fake release was a marketing stunt

No Volkswagen US name change as sources say fake release was a marketing stunt

31/3/2021 1:24:00 AM

No Volkswagen US name change as sources say fake release was a marketing stunt

Volkswagen AG's U.S. unit will not change its name even after the German automaker issued a statement on Tuesday saying it would, three sources ...

BookmarkWASHINGTON: German automaker Volkswagen AG's US unit issued a false news release on Tuesday (Mar 30) claiming it wouldrename its US operations as"Voltswagen of America"in a marketing stunt designed to call attention to its electric vehicle efforts, three people briefed on the matter told Reuters.

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The automaker was set to acknowledge it will not change its name on Wednesday morning, but the timing could change, the sources said. The news release, posted on its website and accompanied by tweets, was reported by Reuters and other outlets globally and included a detailed description of its purported rebranding efforts and new logos.

AdvertisementAdvertisementA Volkswagen spokesman in Germany called the rebranding a"nice idea" with a focus on marketing. A Volkswagen of America spokesman and Volkswagen Group of America CEO Scott Keogh did not immediately comment.VW had said it mistakenly published a draft of the fake release on Monday and took it down after some reporters wrote stories about it. It then issued the"official" announcement on Tuesday, two days before the April Fool's Day holiday.

The world's second-largest carmaker expects to double electric vehicle deliveries and boost profits for its core brand this year after stepping up its switch to fully electric vehicles.Some VW officials have expressed frustration that its significant US EV efforts have not drawn as much attention as Tesla or General Motors.

AdvertisementAdvertisementThe Volkswagen brand aims to invest €16 billion (US$19 billion) in electrification and digitalization by 2025. It has committed to sell one million EVs worldwide by 2025.Volkswagen in 2015 admitted to using illegal software to rig diesel engine tests in the United States, sparking Germany’s biggest corporate crisis and costing the carmaker more than €32 billion (US$38 billion) in fines, refits and legal costs.

In 2017, VW pleaded guilty to fraud, obstruction of justice and making false statements as part of a US$4.3 billion settlement reached with the US Justice Department over the automaker's diesel emissions scandal. Read more: CNA »

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