The Fallersleben plant also manufactured the V-1 flying bomb, making the plant a major bombing target for the Allied forces.Īfter the war in Europe, in June 1945, Major Ivan Hirst of the British Army Royal Electrical and Mechanical Engineers (REME) took control of the bomb-shattered factory for use in repairing British Army vehicles, pending the expected disposal of the plant tooling and equipment as war reparations. Only a small number of Type 60 Volkswagens were made during this time. Shortly after the factory near Fallersleben was completed, World War II started, and the plant primarily manufactured the military Kübelwagen (Porsche Type 82) and the related amphibious Schwimmwagen (Type 166), both of which were derived from the Volkswagen. On 16 September 1938, Gezuvor was renamed Volkswagenwerk GmbH ('Volkswagen Factory GmbH'). This vehicle was designed by Ferdinand Porsche's consulting firm, and the company was backed by the support of Adolf Hitler. The purpose of the company was to manufacture the Volkswagen car, originally referred to as the Porsche Type 60, then the Volkswagen Type 1, and commonly called the Volkswagen Beetle. Volkswagen (meaning 'People's car' in German) was founded in Berlin as the Gesellschaft zur Vorbereitung des Deutschen Volkswagens mbH ('Limited Liability Company for the preparation of the German People's Car', abbreviated to Gezuvor) by the National Socialist Deutsche Arbeitsfront (German Labour Front) and incorporated on. : Laying the foundation stone of the first Volkswagen plant by Adolf Hitler: In the front right is Ferdinand Porsche. The government of Lower Saxony holds 12.7% of the company's shares, granting it, by law, 20% of the voting rights. Volkswagen delisted from the London Stock Exchange in 2013. It has been traded in the United States via American depositary receipts since 1988, currently on the OTC Marketplace. Volkswagen Aktiengesellschaft is a public company and has a primary listing on the Frankfurt Stock Exchange, where it is a constituent of the Euro Stoxx 50 stock market index, and a secondary listings on the Luxembourg Stock Exchange and SIX Swiss Exchange. The company's operations in China have grown rapidly in the past decade, with the country becoming its largest market. Volkswagen acquired a controlling stake in SEAT in 1986, making it the first non-German marque of the company, and acquired control of Škoda in 1994, of Bentley, Lamborghini and Bugatti in 1998, Scania in 2008 and of Ducati, MAN and Porsche in 2012. Volkswagen launched a new generation of front-wheel drive vehicles in the 1970s, including the Passat, Polo and Golf the last became its bestseller. In 1965, it acquired Auto Union, which subsequently produced the first postwar Audi models. The company's production grew rapidly in the 1950s and 1960s. Volkswagen was founded in Berlin in 1937 and incorporated in Wolfsburg to manufacture the car that would become known as the Beetle. The company has operations in roughly 150 countries, and it has 100 production facilities across 27 countries.
Volkswagen also has two major joint ventures in China, FAW-Volkswagen and SAIC Volkswagen. It is divided into two primary divisions-the Automotive Division and the Financial Services Division-and as of 2008, it had about 342 subsidiary companies. The Volkswagen Group sells passenger cars under the Audi, Bentley, Cupra, Lamborghini, Porsche, SEAT, Škoda and Volkswagen brands motorcycles under the Ducati name light commercial vehicles under the Volkswagen Commercial Vehicles brand and heavy commercial vehicles via the marques of listed subsidiary Traton ( IC Bus, International, MAN, Scania and Volkswagen Caminhões e Ônibus). It ranked seventh in the 2020 Fortune Global 500 list of the world's largest companies. It has maintained the largest market share in Europe for over two decades. In 2016, it was the world's largest automaker by sales, and keeping this title in 2017, 20, selling 10.9 million vehicles. The company designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines and turbomachinery, as well as offering related services, including financing, leasing and fleet management. Volkswagen AG ( German: ( listen)), known internationally as the Volkswagen Group, is a German multinational automotive manufacturer headquartered in Wolfsburg, Lower Saxony, Germany.
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