VW wants to revive the Scout brand as an electric vehicle. In the United States, Volkswagen plans to bring back the legendary “Scout” brand as an electric vehicle.
The Wall Street Journal reported late Tuesday that the German automaker was planning to release a “new Scout-branded electric sport-utility vehicle” as well as an electric pickup truck under the Scout moniker.
Navistar is now part of the Traton Group, which is a conglomerate.
According to Reuters, VW will invest around 100 million euros ($105.49 million) in the new brand, and it may seek “external capital through investors or an IPO to increase its production capacity,” citing two people familiar with the matter.
Electrifying goals
In July 2021, the Volkswagen Group stated that by 2030, 50% of its sales would be battery-electric vehicles. Nearly all of the business’s new vehicles in major markets should be nil by 2040, according to the company.
Volkswagen’s electrification plans pit it against hard automakers like GM and Ford, as well as relative newcomers like Tesla.
Ford CEO Jim Farley has stated that his company intends to “fight Tesla and all comers to become the best.”
Volkswagen CEO Herbert Diess told CNBC in March 2021 . The company was not interested in partnering with Tesla and that it preferred to go its own way.
VW could produce Tesla vehicles, or if the Tesla and VW brands would ever merge.
He replied, “No, we haven’t considered [that], we’re going our own way.” “We want to get close and then overtake.”
—This article was co-written by Chloe Taylor.
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