VW aims to increase its U.S. market share with more than 50,000 reservations for upcoming EVs, according to Scout.

• Over 50,000 refundable reservation deposits have been received by Scout Motors for its initial electric pickups and SUVs, according to Volkswagen CEO Oliver Blume.
• Volkswagen stated that Scout is included in its strategy to increase its market share in the U.S.
• The vehicles are expected to start under $60,000 and will arrive in 2027.

Over 50,000 refundable reservation deposits have been received by Scout Motors for its first electric pickups and SUVs, as stated by Volkswagen CEO Oliver Blume.

In October, Volkswagen unveiled production-ready versions of its Terra pickup truck and Traveler SUV, both of which are all-electric or extended-range electric vehicles (EREVs). These vehicles were previously known as the Scout, an American brand that existed from 1961 to 1980.

In the early 2020s, when many all-electric vehicles were first introduced, Scout received fewer reservations than other automakers. Despite this, reservations can serve as an indicator of interest in the vehicles.

"During a private media event at the CES tech conference in Las Vegas on Tuesday night, Blume stated that the market response to their product had been extremely positive. He explained that the response was characterized as "This is heritage," and added that it was a love story."

To be among the first to order a vehicle from Scout when it becomes available in 2027, customers must submit a $100 refundable deposit.

VW aims to expand its market share in the U.S. through its various brands, including Scout, which currently accounts for approximately 4% of its U.S. market share, according to Blume.

Blume stated that our ambition is to significantly increase our market share, and we believe we have potential with the new cars entering the market, without revealing a specific market share target.

At CES, Scout CEO Scott Keogh stated that the reservations for the company have surpassed expectations. He added that approximately 70% of the reservations were for the Traveler SUV, which aligns with company predictions.

Keogh refused to reveal the split between bookings for the all-electric and EREV models.

"Keogh informed CNBC that they were thrilled with the results, stating, "The EREV has received positive feedback.""

EREVs are a type of plug-in hybrid electric vehicle that have EV motors and battery cells, along with a traditional internal combustion engine that acts as a generator to power the vehicle's electric components when the battery runs out of energy.

Scout added EREVs to safeguard the brand from market fluctuations due to lower-than-anticipated consumer demand for EVs, as previously stated by Keogh.

Keogh stated that the company is concentrating on three primary objectives: enhancing brand recognition, continuing to develop the vehicle, and finishing a $2 billion factory in South Carolina.

According to Scout's website, both the Traveler and Terra are predicted to cost under $60,000. The EREV vehicles from the company are expected to have a range of over 500 miles, with up to 350 miles of range for the all-electric models.

Scout showcased the connectivity and in-vehicle user experiences of its upcoming truck and SUV at CES, emphasizing their outdoorsy recreational nature similar to Jeep and EV startups. These vehicles feature available satellite connectivity for use in remote areas.

Scout is constructing a plant in South Carolina with a yearly production capacity of 200,000 vehicles. The company anticipates utilizing batteries, the costliest component of an electric vehicle, from a joint venture battery cell manufacturer in Canada.

Rivian and VW's $5.8 billion joint venture deal will provide Scout with software and electrical architecture for its vehicles.

In 2021, VW acquired the Scout trademark and name after purchasing Navistar, a successor of Scout's original owner International Harvester, for $3.7 billion.