German automaker Volkswagen's US operations issued a false statement on Tuesday that claimed it would change its name from Volkswagen of America to Voltswagen. The news that the company would change its name was reportedly released on the company's website that included a detailed description of its rebranding efforts and new logos. Volkswagen US removed the post later. Now a new report has revealed that it was a marketing stunt by the company to draw attention to electric vehicles that are currently selling in the US. Volkswagen’s Electric Car Charging Robot Showcased, Check Video Here.
Later, a Volkswagen spokesperson reportedly said in a statement that the company will not change its name to Voltswagen. In the spirit of April Fool's Day, the renaming was announced highlighting the launch of all the electric ID.4 SUV and the company's future-forward investment in e-mobility.
As per an analyst, Volkswagen preferred shares closed 4.7 percent higher whereas the ordinary shares closed up 10.3 percent yesterday. Volkswagen aims to invest 16 billion euros in electric vehicles and committed to sell one million EVs globally by 2025.
(The above story first appeared on LatestLY on Mar 31, 2021 10:38 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).