Volkswagen Group (pronounced [ˈfɔlksˌvaːgən gʁuːp]), orVolkswagen Aktiengesellschaft (pronounced [ˈfɔlksˌvaːgən ˈʔakt͡si̯əngəˌzɛlʃaft]), shortly VW AG, and its subsidiaries, is aGerman multinational automotive manufacturing company headquartered in Wolfsburg, Lower Saxony, Germany. It designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines, and turbomachinery and offers related services including financing, leasing and fleet management. In 2012, it produced the second-largest number of motor vehicles of any company in the world, behind Toyota and ahead of General Motors. It has maintained the largest market share in Europe for over two decades.[8] As of 2013, it ranked ninth in the Fortune Global 500 list of the world’s largest companies. In 2014, it reached production output of 10.14 million vehicles.Volkswagen Group sells passenger cars under the Bentley, Bugatti,Lamborghini, Audi, Porsche, SEAT, Škoda and Volkswagen marques; motorcycles under the Ducati brand; and commercial vehicles under theMAN, Scania, Neoplan and Volkswagen Commercial Vehicles marques. It is divided into two primary divisions, the Automotive Division and the Financial Services Division, and has approximately 340 subsidiary companies. The company has operations in approximately 150 countries and operates 100 production facilities across 27 countries. VW has two major joint-ventures in China (FAW-Volkswagen andShanghai Volkswagen).Volkswagen held a 19.9% non-controlling shareholding in Suzukibetween 2009 and 2015.
An international arbitration court ordered Volkswagen to sell the stake back to Suzuki.[11] Suzuki paid $3.8bn to complete the stock buy-back just hours prior to the Volkswagen emissions violations which engulfed Volkswagen.[12]Volkswagen Aktiengesellschaft is a public company and has a primary listing on the Frankfurt Stock Exchange, where it is a constituent of theEuro Stoxx 50 stock market index, and secondary listings on the London Stock Exchange, Luxembourg Stock Exchange, New York Stock Exchange and SIX Swiss Exchange. As of September 2012, the state ofLower Saxony holds 12.7% of the company’s shares, granting it 20% of the voting rights.