The American market share is expected to expand as Scout Motors, a subsidiary of Volkswagen (VWAGY.US), receives over 50,000 pre-orders for their electric vehicles.

Oliver Bloom, CEO of Volkswagen (VWAGY.US), announced that the company's Scout Motors brand has received over 50,000 refundable deposits for the first batch of electric pickup trucks and SUVs. Volkswagen has revitalized the American brand "Scout" with the introduction of the Terra truck and Traveler SUV in October last year. These vehicles will be offered in fully electric or extended-range electric vehicle (EREV) formats. Compared to other automakers' initial launches of purely electric vehicles, Scout has received fewer reservations. Reservations do not guarantee sales, but they can serve as an indicator of interest. "The response from the market has been very, very positive," Bloom stated at a private media event at the Consumer Electronics Show (CES) on Tuesday. In the case of Scout, customers must submit a $100 refundable deposit to be among the first to place an order when the vehicles become available. These vehicles are scheduled for delivery in 2027. Volkswagen plans to expand its market share in the United States under its various brands, with Scout being a part of this plan. Volkswagen's brands include Audi, Porsche, and its eponymous brand. Bloom stated that the German automaker currently holds about 4% market share in the U.S. "Our goal is to increase market share, and we believe we have some potential as all new cars enter the market," Bloom said, without disclosing the specific market share target. Scout CEO Scott Keogh mentioned in another interview at CES that the number of reservations exceeded the company's expectations. He stated that around 70% of reservations were for the Traveler SUV, which aligns with the company's expectations. Keogh declined to disclose the reservation numbers for the fully electric and EREV models. "We are very pleased with these numbers," he said. "The response to EREV has been very good." Keogh previously mentioned that adding electric vehicles is to better protect the brand from market fluctuations, as consumer demand for electric vehicles has been lower than expected. The company is currently focusing on three main tasks: increasing brand awareness, continuing automotive engineering design, and completing the $2 billion investment in factory construction in South Carolina. According to Scout's website, the starting price for the Traveler and Terra models is below $60,000. The company claims that the EREV vehicles will have a range exceeding 500 miles, while the fully electric models will reach 350 miles. At CES, Scout highlighted the connectivity and in-car user experience of its upcoming trucks and SUVs, which are designed similar to outdoor recreational vehicles like Jeep and electric vehicle startup Rivian. This includes providing satellite connectivity for reconnaissance vehicles in remote areas. Scout is currently constructing a factory in South Carolina with an annual production capacity of 200,000 vehicles. Scout hopes to use batteries from Volkswagen's joint battery manufacturing partner in Canada - the most expensive part of electric vehicles. Scout also plans to use software and electrical architecture from the $5.8 billion joint venture agreement between Rivian and Volkswagen in its vehicles. Volkswagen acquired the predecessor of Scout, International Harvester Company Navistar, for $3.7 billion in 2021, subsequently obtaining the Scout trademark and name.