Volkswagen By 2030, the German automaker expects EVs to account for half of its US sales, according to the company, which announced the rebranding by accident this week.
Volkswagen is reviving its business in the United States, with a focus on electric vehicles and a new name for the company: Voltswagen of America.
The rebranding, which will represent VW’s commitment to electric transportation, will go into effect in May, the company announced on Tuesday. It will be preceded by the arrival of the ID.4, the automaker’s first electric SUV, at dealerships across the country later this month. This month is going to be interesting.
According to Kimberley Gardiner, senior brand marketing vice president, Voltswagen of America, the transition will take place “at all consumer touch points” over the next few months.
On Monday, an incomplete version of the rebrand advertisement was posted on VW’s website, but it was quickly removed, prompting social media speculation that the name change was merely an April Fool’s joke. “Volts are the electric power units between two points,” VW said in a statement on Tuesday, adding that the new name and brand “symbolises Voltswagen’s high-charge forward momentum and aims to shift people from point to point with EVs.”
To preserve the brand’s heritage, the automaker will continue to use their classic dark blue VW for gas-powered vehicles, while using light blue for electric vehicles with an external ‘Voltswagen’ badge.
“We may change our K to a T, but our commitment to making best-in-class drivers’ vehicles for people everywhere remains unchanged,” said Scott Keogh, President and Chief Executive Officer of Voltswagen of America. “The concept of a ‘people’s car’ has become ingrained in our DNA. We stated from the beginning of our transition to an electric future that we would build electric cars for the masses, not just the wealthy. This name change is a nod to our history as a people’s car, as well as our firm belief that the people’s car of the future will be an electric car. “
The Biden administration has created significant headwinds for the rapidly growing electric vehicle industry. In January, President Biden signed a Managing Order outlining plans to fully electrify the federal vehicle fleet and install hundreds of thousands of charging stations across the country.
Other automotive behemoths are also investing heavily in electric vehicles. General Motors announced in January that by 2035, it would cease producing gasoline-powered passenger cars, freight forwarders, and SUVs. Jaguar announced in February that all of its vehicles would be electric by 2025, and Volvo announced earlier this month that internal combustion engines would be phased out by 2030.
In February, Dan Ives, CEO of Wedbush Securities, wrote in a research statement that: the golden age of EV is on the horizon.
Despite the fact that the rebranding emphasises Volkswagen’s commitment to greener vehicles, the company was at the centre of a massive emissions scandal. The US Environmental Protection Agency discovered in September 2015 that Volkswagen had fitted millions of gasoline cars with cheating devices that allowed them to test their emissions as low as 40 times the legally binding US limit.
Volkswagen paid $14.7 billion to settle shareholder claims related to the scandal in June 2016, in one of the most high-profile class action settlements in US history. In January 2017, Volkswagen agreed to pay $4.33 billion in criminal and civil fines after pleading guilty in a case brought by the US Department of Justice. Fines and settlements totaling over €31 billion (over $34.6 billion) have been levied against Germany’s car giant as a result of the scandal.
To persuade consumers to think of Volkswagen as a sustainable company pushing the boundaries of electric vehicle technology—a sector with significant growth potential. In an email to The Washington Post, Neil Saunders, the Managing Director of Global Data Retail in New York, announced the news. “It’s critical that you update.” The Volkswagen brand is most likely aware of the emissions scandal, and this move will aid in its dissipation. ” “Volkswagen of America, headquartered in Herndon, Virginia, is a subsidiary of Volkswagen AG, Europe’s largest automaker. It was the first to capture the fascination of Americans with the Volkswagen Beetle, which went on to become the world’s best-selling car, surpassing the Ford Model T. “People’s Car” is the name of the parent company. Volkswagen
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