This is NOT an early April Fool's joke.
What was a rumor only yesterday has been confirmed today. Volkswagen of America has officially announced it is changing its name to Voltswagen of America. That's right. It swapped the K for a T, though this will apply to its EVs only. Why is this happening? Because VW wants to declare its long-term commitment to e-mobility with new battery-electric models like the VW ID.4, which have just arrived in US dealerships. Volts are the derived units for electric potential between two points. Volks, of course, translates to 'people' in German.
"The idea of a 'people's car' is the very fabric of our being," said president and CEO of VW North America Scott Keogh.
UPDATE: This situation turned out to be an elaborate April Fool's Day joke by Volkswagen. CarBuzz, as well as many other reputable news outlets, were fooled into thinking it was legitimate. The name will not be changing. An article explaining what happened is forthcoming.
"We have said, from the beginning of our shift to an electric future, that we will build EVs for the millions, not just millionaires. This name change signifies a nod to our past as the peoples' car and our firm belief that our future is in being the peoples' electric car."
Parent company the Volkswagen Group (that name is not changing) has committed billions of dollars worth of investments in electric mobility-related technologies, ranging from batteries to a network of charging stations. In some ways, the Dieselgate scandal that erupted in September 2015 might turn out to be the best thing that ever happened to VW. The automaker was forced not only to pay billions in fines to the US and other governments but also had the rare opportunity to reinvent itself.
It ditched its old leadership and brought in younger and more innovative thinkers and planners. The rise of an industry disruptor like Tesla immediately caught their attention.
Today, the VW Group's brands sell several battery-electric vehicles, including the Porsche Taycan and Audi e-tron. More are due to come, including a production version of the ID.Buzz concept in 2023. By 2025, the VW Group is aiming for a 30 percent overall reduction in its carbon footprint and net-carbon neutrality by 2050. A goal to sell at least one million electric vehicles globally by 2025 remains, more than 70 electric models will be launched across all brands by 2029.