Volkswagen is a very familiar name for all automobile enthusiasts across the world. This German motor vehicle manufacturer has fared on the path of success and popularity due to its uncompromising quality and commitment. It was founded on 28 May 1937, by the German Labour Front and is headquartered in Wolfsburg, Germany.
Going by the factual pieces of evidence it can be seen that the Volkswagen group has played a significant role in making cars a product of the middle-class by being a very elitist possession, especially during the second world war. However, it is important to note that Volkswagen is not just a single popular brand. They in fact own many other brands as well. This article will look into the various companies that are owned by the Volkswagen group
Cariad
Volkwagen Group Components
Volkswagen Financial Services
MOIA
SEAT
Skoda
Scania
Ducati
Porsche
Audi
Lamborghini
Bentley
Bugatti
Traton
MAN
IAV
Renk
WirelessCar
Cariad
It is an independent automotive software company under the Volkswagen Group that consolidates and expands the software competencies of the firm. With a goal to make the best use of technology to benefit the automotive industry, this company is on its way to developing more sustainable automotive services. It was established in 2020.
Volkwagen Group Components
This company was founded in 2019 as a part of Volkswagen group strategy 2030. They aspire to improve the potential and viability of component activities through cross-brand management. They are divided into new business areas that are known as Engine & Foundry, Gearbox & Electric Drive, Battery Cell & Battery System, Charge & Energy, Chassis and Seats. Today, they manage over 75,000 people across the globe.
Volkswagen Financial Services
It was founded in the year 1949 and since then has been performing well even during the Covid 19 pandemic. They focus on finding better services with regard to the digital spaces. Their primary focus area revolves around dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. They are represented in over 48 markets across the globe.
MOIA
MOIA is a company under Volkswagen that focuses on offering mobility services to city dwellers. It was founded in December 2016 and since then has been working towards its primary goal of recruiting the nuances of mobility amongst the people in urban areas. They develop on-demand services including ride pooling. With the Volkswagen group, they are able to thrive under an experienced company while having exposure to a startup culture.
SEAT
Seat is the first car manufacturing company in Spain and was founded on 9 May 1950. Since then they have been demonstrated evidence that stands as a testament to the robust technology and industrial competence that the firm maintains consistently. Today the company has marked its presence in more than 75 countries employing over 15,000 people. They sell vehicles under two brands namely SEAT and CUPRA.
Skoda
Skoda is a Czech Republic company that was founded in 1895 by Vaclav Laurin and Vaclav Klement. It is one of the oldest car manufacturers in the world that is functional even today. For the last 30 years, Skoda auto has been a very important part of the Volkswagen group. Skoda has also not forgotten their commitment to creating a sustainable environment like all other brands under Volkswagen. They are driven by the exporters of a well-construed sustainability advisory board.
Scania
The Swedish brand was founded in 1891 by Philip Wersen and Surahammarsbruk, which is a centuries-old ironworks. Over the years, they ran into many financial difficulties before they became the general agent for Volkswagen in Sweden. By 2008, Volkswagen owned over 68% of the voting rights and 37.73% of share capital. By 2014, Scania was wholly owned by the Volkswagen Group. The company has grown so much under Volkswagen that in 2020, Scania released its fully electric truck to become one of the topmost companies in the commercial vehicle industry.
Ducati
Headquartered in Bologna, Italy, Ducati has never failed to impress motorbike lovers. It was founded by Antonio Cavalieri in the year 1926. Ducati was taken over by Volkswagen in 2012 for $1.2 billion. Through Ducati, Volkswagen has been able to maintain a stronghold in the motorcycle industry as well.
Porsche
This popular brand that is known for its premium qualities was founded by Ferdinand Porsche in 1931. It is said that the Beetle designs by Volkswagen were influenced by Porsche. Although the companies agreed to merge in August 2009, it was only towards the end of 2015 that Volkswagen had the majority shareholding in Porsche.
Audi
This famous automobile brand became an important part of Volkswagen in 1965. It has been offering premium vehicles since its inception in 1909. Today Audi cars have become a measure of the quality of life and place their owners in a certain class of society.
Lamborghini
Lamborghini was founded by Ferruccio Lamborghini in the year 1963. Since the founding of this Italian company, it has been a competition to Ferrari due to its uncompromising design and quality. The firm shot to fame within a few years. However, due to financial burdens, Lamborghini had to shut down in 1973. After several changes of ownership Volkswagen finally took over the firm in the year 1998. Through the deliverance of unique hybrid technologies, they have generated billions in the automobile industry today with no turning back since the acquisition.
Bentley
Bentley was founded in 1919 and Crewe of United Kingdom. Today Bentley is an end to end net carbon neutral company which adds to the unmistakable reputation of the firm. They have been a part of the Volkswagen group since 1998.
Sarika Anand
Bugatti
It is a subsidiary of the Volkswagen group that was founded in the year 1998. This luxury brand of hyper sports cars is based in Molsheim, France. Today strong brands like Porsche and Rimac have agreed to formulate a joint venture with Bugatti wherein they will produce hypercar models. Right now the two hypercar models that are planned are the Bugatti Chiron and the all-electric Rimac Nevera.
Traton
Under the umbrella of Volkswagen, Traton has emerged as one of the largest commercial vehicle manufacturers across the globe. Recently they merged with Navistar which has further elevated the prospects of the firm. They aim to become the leading brand in the field of commercial vehicles by giving importance to sustainability and digitalisation.
MAN
The MAN Truck and Buses are two of the most popular additions of this brand under Volkswagen. However, to focus on the global plans for the premium end of the market, MAN trucks exited the Indian markets 2 years ago.
IAV
Volkswagen AG and IAV is an auto parts maker that has created standards to follow for latecomers. Volkswagen owns more than 50% of its stake in IAV. It was founded in Berlin in 1983 by Dr Hermann Appel. Over the years they have developed electric vehicle rechargers that are built into the road for which they have submitted patents.
Renk
It was a subsidiary of MAN since 1923. As Volkswagen acquired MAN in 2011, Renk became a direct subsidiary of Volkswagen. However, the latter happened in 2019. Renk is a remarkable automotive company that is into the manufacturing of engines for trucks, ships and combat defence vehicles.
WirelessCar
In 2018 Volkswagen group acquired a 75% of stake in WirelessCar which was owned by Volvo information technology AB. it will help the parent company to further extend its mission of improving connectivity. This Swedish telematics specialist is expected to accentuate the growth of the digital ecosystem and thereby provide extensive connectivity for vehicle generations to come. It is expected that WirelessCar technology will ensure a stable and safe exchange of data between various platforms.
Niharika Kalyankar
Conclusion
From being one of the pioneers in bringing cars into the midst of middle-class households, Volkswagen continues to be the baton bearer of various other important milestones since then. Today, Volkwagen’s electric vehicles are the most frequently delivered passenger car across the world.
Through digitalisation, they have transformed the present and future of the company. They have brought in relevant software updates through which the company have been able to remain customer friendly.
Inadvertently, these efforts have helped them remain focused on their goals to be the best in the industry. The zeal of Volkswagen to not only focus on the present but also invest intelligently in the future is something that has to be appreciated and looked up to.
FAQs
What subsidiaries does Volkswagen own?
Bugatti, Traton, MAN, IAV, Renk, WirelessCar, Lamborgini, Porsche, Ducati, Scania, Skoda, Audi, Seat, and MOIA are some of the subsidiaries of Volkswagen.
Is Bugatti Owned by Volkswagen?
Yes, Volkswagen acquired Bugatti in 1998 for $50 million in an all-stock deal.
Source :- https://startuptalky.com/ Author :- Anagha S Date :-April 14, 2022 at 10:58AM