SEC investigates Volkswagen’s ‘Voltswagen’ prank

The U.S. Securities and Exchange Commission (SEC) has started an inquiry into the U.S. unit of Volkswagen over a marketing stunt in which it said it was changing its name in the United States to “Voltswagen,” only to say the next day that it was a prank and they have no plan to change the name.

Spiegel first reported the inquiry and the SEC’s request for information regarding the issue made in early April and quoted the automaker as confirming the investigation.

The said prank happened just ahead of April Fool’s Day on the first of the month, when companies often release fake statements, was meant to call attention to its electric vehicle efforts, the automaker said.

Volkswagen Group of America CEO Scott Keogh said April 1 interview that the prank announcement was a “gag” and an attempt to “have some humor” and “to celebrate our profound focus on electrification”.