“We have said, from the beginning of our shift to an electric future, that we will build EVs for the millions, not just millionaires. This name change signifies a nod to our past as the peoples’ car and our firm belief that our future is in being the peoples’ electric car.”
Parent company the Volkswagen Group (that name is not changing) has committed billions of dollars worth of investments in electric mobility-related technologies, ranging from batteries to a network of charging stations. In some ways, the Dieselgate scandal that erupted in September 2015 might turn out to be the best thing that ever happened to VW. The automaker was forced not only to pay billions in fines to the US and other governments but also had the rare opportunity to reinvent itself.