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Volkswagen AG (German: [ˈfɔlksˌvaːɡn̩] ... Lower Saxony, Germany, and since the late 2000s is a publicly traded family business owned by Porsche SE, ...
Volkswagen was established in 1937 by the German Labour Front (German: Deutsche Arbeitsfront) as part of the Strength Through Joy (German: Kraft durch Freude) program in Berlin. [4] In the early 1930s, cars were a luxury—most Germans could afford nothing more elaborate than a motorcycle, and only one German out of 50 owned a car.
The Volkswagen Chattanooga Assembly Plant was inaugurated on May 24, 2011, and initially built the US-spec Volkswagen Passat and in 2017 started production of the Volkswagen Atlas. [ 11 ] With effective from 12 December 2024, Kjell Gruner is the new Chief Executive Officer of VWoA, taking the helm from Pablo Di Si who has stepped down from the ...
Originally, 80% owned by VW and 20% owned by BAZ and known as Volkswagen Bratislava, s.r.o. Became 100% owned by VW in 1995. Reorganized as Volkswagen Slovakia, a.s. in 1999. The only factory to produce the Golf Syncro four-wheel drive version. Headquarters, and part of Volkswagen Slovakia, a.s.
Porsche SE was created in June 2007 by renaming the old Dr. Ing. h.c. F. Porsche AG, and became a holding company for the families' stake in Porsche Zwischenholding GmbH (50.1%) (which in turn held 100% of the old Porsche AG) and currently is the major shareholder in Volkswagen AG (31.3%) and holds the majority voting rights (53.1%).
Jefferies analyst said that Volkswagen's unions "can only strike on pay, not plant closure or layoffs if the latter are not contractually protected.”