Volkswagen AG engages in the production and sale of vehicles and components, primarily Volkswagen brand passenger cars and commercial vehicles. The company also holds interest in AUDI AG, Scania AB, SEAT S.A., Volkswagen Financial Services AG and other companies in Germany and abroad. It operates in Europe, North America, South America, South Africa, and the Asia-Pacific. Divisions The company operates in two divisions: Automotive and Financial Services. The Automotive Division is responsible for the development of vehicles and engines, the production and sale of passenger cars, commercial vehicles, trucks and buses, and the genuine parts business. Its brands include Volkswagen Passenger Cars brand; Audi brand; Skoda brand; SEAT brand; SEAT brand; Bentley brand; and Scania brand. The Financial Services Division's portfolio of services includes dealer and customer financing, leasing, banking and insurance activities, and fleet management. The principal companies in this division include Volkswagen Bank GmbH and Volkswagen Leasing GmbH in Europe; and VW CREDIT, INC. in North America. Dispositions In December 2008, the company announced the sale of Volkswagen Caminhoes e Onibus Industria e Comercio de Veículos Comerciais Ltda. (VW CO), Resende, Brazil. Strategic Alliances In May 2009, Porsche Automobil Holding SE and Volkswagen AG announced that they would work over the to create an integrated car manufacturing group. In September 2009, Volkswagen AG announced that it was to found a joint venture (JV) with VARTA Microbattery GmbH. The new enterprise is designed to raise the capacity of lithium-ion batteries. In November 2009, Volkswagen AG announced collaboration with the Massachusetts Institute of Technology to develop a dashboard-mounted robotic device for cars. The system is named AIDA (Affective Intelligent Driving Agent). It can analyse traffic conditions, weather, and the car's status to make suggestions that go beyond simple turn-by-turn directions. On December 11, 2009, Volkswagen AG has reached a common understanding with Suzuki Motor Corp. to set up a partnership. History Volkswagen AG was founded in 1937.
volkswagen ag (VLKAF:OTC US)
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