This graphic, from 2019, is of a refurbished Scout. The brand name was initially designed by Intercontinental Harvester between 1961 and 1980.
Long term Publishing | Long term Publishing | Getty Pictures
Volkswagen is setting up to resurrect the iconic “Scout” manufacturer as an electric automobile in the United States.
In a report late Tuesday, the Wall Street Journal stated the German automotive large was aiming to launch a “new Scout-branded electric sport-utility motor vehicle” as nicely as an electrical pickup truck, also underneath the Scout identify.
Volkswagen confirmed to CNBC that its supervisory board would vote on the proposals on Wednesday.
The Scout’s history dates again to the 1960s, when Worldwide Harvester — today regarded as Navistar Worldwide Corporation — started out enhancement.
According to Navistar, the Scout was “promoted as an all-terrain family members leisure auto” before evolving into a “accurate SUV.” Generation of the Scout ceased in 1980. Today, Navistar is part of the Traton Team, which is by itself a subsidiary of the Volkswagen Group.
Reuters, citing two people with understanding of the make any difference, said Wednesday that VW would make investments about 100 million euros ($105.49 million) in the new manufacturer, including that it would possibly look for “exterior funding by way of buyers or an IPO to grow its production capabilities.”
Electric powered ambitions
In July 2021, the Volkswagen Group said half of its profits were being anticipated to be battery-electrical vehicles by 2030. By the year 2040, the enterprise stated virtually 100% of its new vehicles in major markets should be zero-emission.
VW’s electrification programs place it in direct levels of competition with prolonged-founded automakers like GM and Ford, as very well as relative newcomers this kind of as Tesla.
Not too long ago, Ford CEO Jim Farley mentioned his enterprise planned to “obstacle Tesla and all comers to develop into the prime EV maker in the environment.”
In March 2021, Volkswagen CEO Herbert Diess dismissed the idea his organization could join forces with Tesla, telling CNBC that the corporation was looking to go its personal way.
Speaking to “Squawk Box Europe,” Diess was asked if he would rule out any upcoming offer with Elon Musk’s electric auto maker, in which VW could manufacture its cars and trucks, or if the Tesla and VW brands would at any time unite.
“No, we have not viewed as [that], we are likely our very own way,” he replied. “We want to get close and then overtake.”
—Chloe Taylor contributed to this report.