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Volkswagen electric car ID.4: Unusual promotion on April 1st
Photo: Matthias Rietschel / REUTERS
The feigned renaming of the VW group in the USA to "Voltwagen" could have legal consequences.
The American Securities and Exchange Commission is examining whether Volkswagen may have influenced the stock market price through the PR gag.
The investigations are at an early stage, at the beginning of April the authorities requested information from the Wolfsburg-based company.
When asked, the group confirmed that the SEC had requested information from the US subsidiary Volkswagen Group of America.
VW cooperates with the responsible authorities.
At the end of March, the American subsidiary announced in a press release that it would rename itself to "Voltwagen" in view of the electric offensive.
Numerous international media reported on the action, which the group exposed the next day as an April Fool's joke.
US media accused VW of being misled.
However, the share price hardly changed over the period.
The automaker justified the unusual advertising campaign with the market launch of the ID.4 e-car in the USA.
They did not want to influence the stock market price.
At Volkswagen, the campaign is now considered a failure.
Above all, the bogus press release has cost the group's credibility, it is said internally. Leading US media are now permanently upset.
Internal corporate guidelines may also have been violated.
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