German automaker Volkswagen AG's U.S. unit confirmed Tuesday it will rename its U.S. operations as "Voltswagen of America" as it shifts its focus to electric vehicles.
The automaker confirmed the name change Tuesday following an inadvertent leak of a draft document on its U.S. website. It originally planned to announce the change on April 29. The transition will go ahead, as scheduled, in May.
"We might be changing out our K for a T, but what we aren't changing is this brand's commitment to making best-in-class vehicles for drivers and people everywhere," said Scott Keogh, president and CEO of Voltswagen of America in a statement.
The German automaker has committed to sell one million EVs worldwide by 2025 and will launch 70 electric models launched across the VW group brands by 2029.
The auto industry, on the whole, is moving towards battery power, but no automaker is investing more in the transformation than VW which has committed to spend more than $80 billion to bring at least 50 all-electric models to market by mid-decade. Its high-line Bentley brand will only sell battery-electric vehicles by 2030 and while the flagship VW brand hasn’t committed to going completely BEV, global CEO Herbert Diess has strongly hinted that is in the works.
The VW brand’s first long-range BEV, the ID.3 hatchback, launched in Europe last year and its first American model, the ID.4 SUV, began rolling into showrooms this month. An assortment of additional all-electric models, including the ID.Buzz, a modern take on the classic Volkswagen Microbus, will follow.
“The idea of a ‘people’s car’ is the very fabric of our being,” said Scott Keogh, president and CEO of Voltswagen of America, referring to the German translation of Volkswagen.
“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.”
The name change will not impact VW’s headquarters or, at least for now, operations outside of North America. Some industry observers have questioned whether the switch to Voltswagen is permanent or just part of a broader marketing campaign the company is launching to highlight its new technology – much as restaurant chain IHOP temporarily became IHOB to promote its broader breakfast menu.
“Over the course of the next few months, you will see the brand transition at all consumer touch points,” said Kimberley Gardiner, senior vice president, Voltswagen of America brand marketing. “This is an exciting moment for us, and we have been working through every avenue to make the transition clear, consistent, seamless and fun for all.”
Volkswagen revised its familiar logo in 2019. Now, to differentiate conventional models from all-electric ones, ID-badged products will feature the VW lettering atop a light blue, rather than dark blue background.
VW was a relative latecomer to electrification. It gained religion following the embarrassing diesel emissions scandal uncovered by the EPA in September 2015. Since then, the Volkswagen brand has abandoned selling diesels in the U.S. and is even cutting back on that technology in Europe where it previously accounted for nearly two-thirds of sales by brands like VW and the high-line Audi.
As part of its settlement with the U.S. government, Volkswagen agreed to set up Electrify America. The start-up has the dual task of promoting EVs and setting up a nationwide network of chargers to make them more viable.
Volkswagen has had a rocky history in the U.S. market. The company became the nation’s largest import brand during the heyday of the original Beetle. But sales collapsed as Japanese competitors like Toyota, Nissan and Honda gained traction in the 1980s. Sales are now on the rebound, buoyed by an expanding line-up of SUVs, including the Tiguan and Atlas. The carmaker is betting it can take the lead as the auto industry transitions from internal combustion engines to battery-cars.
In the process, global CEO Diess has said a key goal is to “overtake” the current EV market leader, Tesla. VW already has surpassed its California-based rival in key European markets, including Germany and Norway, BEVs now accounting for about two-thirds of new vehicle sales in the Scandinavian nation.
A study recently released by research firm UBS forecast Volkswagencould topple Tesla as early as 2022. That would include products from not only the VW brand but sibling divisions including Audi, Porsche and even exotic marques like Bentley and Lamborghini.
VW is converting numerous plants in Europe, China and the Americas to produce its new battery-electric vehicles. The ID.4 currently is being imported from Europe but it is spending over $1 billion to add capacity for the electric SUV at its assembly plant in Chattanooga. A second, unidentified BEV also will be produced in Tennessee. The ID.Buzz van and other electric vehicles will be added to the huge VW assembly complex in Puebla, Mexico.
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