Volkswagen Plays An April Fools Prank, Announces Changing Its Name To Voltswagen
German automaker Volkswagen admitted that the press release stating its rebranding as ‘Voltswagen’ was only a “pre-April Fool’s Day joke”.
German automaker Volkswagen AG’s U.S. unit issued a false news release on 29th March in which they claimed that the company would rename its U.S. operations as “Voltswagen of America” in a marketing stunt designed to call attention to its electric vehicle efforts, the company said. They also said, “the new moniker represents its future-forward investment in e-mobility”.
VW faced major backlash online. They were called out for misleading news releases and some commenters even started recalling the company’s diesel emissions scandal and years of misleading customers and regulators.
Later, a Volkswagen US spokesperson said, “Volkswagen of America will not be changing its name to Voltswagen. The renaming was designed to be an announcement in the spirit of April Fool’s Day, highlighting the launch of the all-electric ID.4 SUV and signaling our commitment to bringing electric mobility to all”.
This announcement by Volkswagen came late on 29th March. It was in form of a news release, posted on its official website and accompanied by tweets. Several media outlets reported the same globally and included a detailed description of its purported rebranding efforts and new logos.
A Volkswagen spokesman in Germany called the rebranding a “nice idea” with a focus on marketing. Volkswagen Group of America CEO Scott Keogh did not respond to messages. At least one analyst wrote a research note praising the name change. VW’s preferred shares closed 4.7% higher. Ordinary shares closed up 10.3%. 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.