Volkswagen’s April Fool’s Prank Backfires!
In what came as a shock, Volkswagen renamed themselves to Voltswagen in the North American market as an April Fools’ Day joke. However, according to a new Der Spiegel report, it seems that the stunt has drawn the eye of the US Securities and Exchange Commission. The agency has opened an investigation into the automaker to determine if VW’s poorly executed joke announcement of changing its name has affected the stock price. Meanwhile, the automaker has just started deliveries of the ID.4 in the USA Also Read - Volkswagen Beetle Chinese Rip-off Under Legal Investigation Though details are scarce at the moment, the automaker did confirm to the German publication that the SEC had requested information from its subsidiary, Volkswagen Group of America (VWoA), and it is cooperating with the authorities. The debacle started a few days before April 1 when VW “accidentally” published a press release announcing a name change. On March 30, the automaker changed its logos, updated its s...