Well the cats out of the bag for Volkswagen.
In an accidental move, the company has leaked the new name for its U.S. operations and it sounds eerily similar to its original name.
Dubbed Voltswagen, the company’s U.S. operations are emphasizing the German automaker’s
move into the electric vehicle revolution.
The company is expected to change the name soon.
In a press release that is now unpublished, the vehicle maker had called the change “a public declaration of the company’s future-forward investment in e-mobility.”
The release said “Voltswagen” will be placed as an exterior badge on all EV models with gas vehicles having the company’s iconic VW emblem only. To “preserve elements of Volkswagen’s heritage,” the release said the company planned to retain the dark blue color of the VW logo for gas-powered vehicles and would be using light blue to differentiate “the new, EV-centric branding.”
The press release had been posted a month early on Monday which had a date of April 29th written on it. A spokesman for the company declined to comment.
One source familiar with the situation has confirmed to CNBC that the release was authentic but asked to remain anonymous because the plans are not yet public.
According to the now unpublished release, Voltswagen of America would remain an operating unit of Volkswagen Group of America and a subsidiary of Volkswagen AG, with headquarters in Herndon, Virginia.
The VW press release was also incomplete as it cited the need for an additional quote and photography from the automaker’s plant in Chattanooga, Tennessee.
Earlier this month Volkswagen had held a “Power Day” to discuss the company’s EV technologies and announced a goal of increasing sales of EVs to 2030.
The company expects more than 70% of its Volkswagen brand’s European sales will be EVs by 2030, up from a previous target of 35%.