Apparently, Volkswagen is NOT changing its name to Voltswagen

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UPDATE 3/30 4:50 PM ET: According to a new report from Reuters, Volkswagen is not changing its name to Voltswagen and it is assumed that the leaked press release was an April Fools joke that pointed to the car company’s push into the electric vehicle market. The original article follows below.

Volkswagen has been making strides in the electric car market, and to reflect that, the company is apparently rebranding in the US to the on-the-nose “Voltswagen.” First revealed by CNBC, the car company apparently pushed a press release early before taking it down.

The press release was originally planned to release on April 1, which some people believed pointed to an April Fools’ joke, but it seems like this is indeed real. According to CNBC, a “person familiar with the matter” has confirmed that the change to Voltswagen it is indeed real. The company has also confirmed the change to The Verge. The change is supposed to officially happen in May.

From the removed press release, it was noted that the change “is a public declaration of the company’s future-forward investment in e-mobility.” The release also notes that Voltswagen would be a subsidiary of Volkswagen AG, with headquarters in Herndon, Virginia.

READ MORE: Volkswagen says it will overtake Tesla in EV sales by 2025

“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.

Electric vehicles have experienced a massive boom in the past year, with Volkswagen being one of the companies leading the charge. Companies like Tesla and Volkswagen are not alone, however, with Volvo recently committing to selling only electric vehicles by 2030.

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