The U.S. Securities and Exchange Commission has opened an inquiry into the U.S. unit of Volkswagen AG over a marketing stunt in which it falsely said it was changing its name in the United States to "Voltswagen," a person briefed on the matter confirmed to Reuters.
Volkswagen declined to comment on the matter to Reuters. The SEC did not respond to a request for comment.
In the runup to April Fools Day, the company said it would rebrand to Voltswagen and include all exterior and interior signs at its VW properties and dealerships, apparently including its Chattanooga production plant.
But later the company said Voltswagen was a marketing stunt to draw attention to its electric vehicle plans.
— Compiled by Mike Pare