VW won't rebrand its US arm as 'Voltswagen' after all, reports say

• Volkswagen said Tuesday its US arm would rebrand to "Voltswagen."
• The announcement was a marketing stunt and will be retracted Wednesday, multiple outlets reported.
• Volkswagen published and took down the announcement on Monday before reposting it Tuesday.

Editor's Note: This story was initially written about Volkswagen's announcement that it was rebranding its US arm to "Voltswagen." Multiple outlets have since reported that the announcement was a marketing stunt, and this story has been updated to reflect that.

Volkswagen of America will not rebrand to "Voltswagen" after all, multiple outlets reported.

The brand - a subsidiary of Germany's Volkswagen Group - announced plans Tuesday to rename its US operations "Voltswagen of America." It said the brand's battery-powered vehicles would have exterior Voltswagen badging, while its gas-powered cars would come with the traditional VW emblem.

Now Volkswagen is walking back the statement, according to multiple outlets, which cited sources familiar with the move.

The press release announcing the name change, published to VW of America's website on March 30, was an April Fools' joke, a Volkswagen spokesperson told The Wall Street Journal. The announcement was made up to drum up attention for VW's upcoming electric vehicles, Reuters reported, citing three sources familiar with the matter.

The carmaker will officially retract the name change on Wednesday, multiple outlets reported.

"We might be changing out our K for a T, but what we aren't changing is this brand's commitment to making best-in-class vehicles for drivers and people everywhere," Scott Keogh, the president and CEO of Volkswagen Group of America, said in a statement Tuesday. "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."

CNBC initially reported the name change Monday after it said a draft of Tuesday's press release was accidentally posted to the brand's website a month early. It was dated April 29, CNBC said, and briefly online before being removed from VW's website.

Volkswagen of America and Volkswagen Group representatives did not immediately return Insider's requests for comment.

Read more: The CEO of a top battery startup explains how working for Elon Musk upended his assumptions about his industry

Volkswagen began delivering its first electric vehicle for the US market, the ID.4, this month. During a presentation earlier this month, the Volkswagen Group laid out a wide-ranging strategy to overtake Tesla in the EV space. The plans included six European battery-production plants, new battery technology, and investments in charging infrastructure.

In January, General Motors unveiled a new logo amid its own accelerated electrification push.