HAMBURG, (Reuters) – Volkswagen (ETR) is planning to increase its electric offerings in America with a fully-electric pick-up truck and a sports-utility vehicle. This will be under the Scout brand. Two people familiar with the matter stated Wednesday.

People said that the automaker would invest 100 million euros (105.52 millions USD) to create the new brand. They also suggested the possibility of seeking out external funding via investors or an IPO in order expand their production capability.

At a Wednesday meeting, the supervisory boards will address this topic. According to a Volkswagen spokesperson, the topic is on the agenda.

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