WASHINGTON - Volkswagen AG's U.S. unit will not change its name even after the German automaker issued a statement on Tuesday saying it would, three sources briefed on the matter said.
The German automaker's news release saying it would change its name to "Voltswagen of America" was a marketing stunt aimed at drawing attention to the company's electric vehicle plans, the three sources said.
The fake announcement drew massive media coverage, and the automaker currently plans to announce on Wednesday it is not serious about changing its name, the sources said.
Earlier on Tuesday, Reuters reported that the revised name would take effect in May and the announcement came after several outlets on Monday reported on a draft release mistakenly posted on the automaker’s U.S. website.
“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.