Volkswagen Plans To Build Own US Plant For Scout Brand: Report

Volkswagen AG VWAGY is reportedly planning to build a production plant in the U.S. for its new Scout brand, avoiding partner collaboration.
In May 2022, the automaker announced plans to reintroduce the Scout off-road brand by creating a separate, independent company to build Scout trucks and SUVs beginning in 2026, Reuters reported.
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The company is also expanding its plant in Chattanooga, Tennessee, to produce the ID. Buzz.
The report further quoted a company spokesperson that a decision on whether to open a plant for Scout had not yet been made, but that production was still due to commence in 2026.
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Price Action: VWAGY shares are trading lower by 3.94% at $17.18 on the last check Friday.