The transition to electric vehicles (EVs) is causing brands to revisit old classics, including one Volkswagen classic set to debut on the EV stage.
Volkswagen plans to renew the classic Scout as both an electric SUV and an electric pickup, according to a report on Tuesday from The Wall Street Journal.
The vehicle, originally marketed as an off-road vehicle, will play into Volkswagen’s strategies to expand its presence in the U.S., and to continue unveiling new EVs.
According to sources familiar with a recent meeting agenda, the plan to expand into the U.S. and debut two Scout EVs is expected to be approved on Wednesday by Volkswagen’s Board of Directors.
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Assuming it’s approved, Volkswagen would begin production on the Scout EV in 2026, and the automaker is targeting 250,000 annual Scout sales in the U.S. according to those familiar.
Reuters reported Volkswagen could invest nearly 100 million euros ($105.4 million USD) into the plan, while also possibly asking for external funding.
The move marks Volkswagen’s first time creating a new brand based out of the U.S. market, and the team’s leaders hope the EV can help the automaker break into the market amidst political turmoil and tensions in Europe and COVID-19 lockdowns in China.
Volkswagen confirmed to CNBC on Wednesday its supervisory board will vote on the proposal today.
Last month, one Volkswagen Executive called the manufacture of an electric pickup the “chance of a lifetime,” prior to announcing the updated Scout EV.