Editing Volkswagen Group (section)

==History==

===1937 to 1945===
[[File:Bundesarchiv Bild 183-H06734, Grundsteinlegung für Werk des KdF-Wagens.jpg|thumb|left|150px|26 May 1938: Laying the foundation stone of the first Volkswagen plant by [[Adolf Hitler]]: In the front right is [[Ferdinand Porsche]]]]
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 [[Nazi Party|National Socialist]] ''[[German Labour Front|Deutsche Arbeitsfront]]'' (German Labour Front) and incorporated in the ''Stadt des KdF-Wagens bei Fallersleben'', (''"''City of the [[Strength Through Joy]] car at [[Fallersleben]]) on 28 May 1937.{{Sfn|Volkswagen AG|2008a|p=1}}<ref name="porsche-75">{{cite web|url=http://www.porsche.com/international/aboutporsche/pressreleases/archive2009/quarter2/?pool=international-de&id=2009-06-16|title=Seventy-Five Years Ago: Porsche Receives the Order to Construct the Volkswagen|date=16 June 2009|work=porsche.com|publisher=[[Porsche AG]]|access-date=22 January 2010|archive-url=https://web.archive.org/web/20101028201216/http://www.porsche.com/international/aboutporsche/pressreleases/archive2009/quarter2/?pool=international-de&id=2009-06-16|archive-date=28 October 2010|url-status=live}}</ref><ref name="sloniger">{{cite book|last=Sloniger|first=Jerry|title=The VW Story|publisher=Patrick Stephens|year=1980|isbn=0-85059-441-3}}</ref> 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]].<ref name=VW-intl-hist>{{cite web |url=http://www.volkswagen.vn/vn/en/company/history.html |publisher=Volkswagen AG |title=Volkswagen Makes Automotive History |work=volkswagen.vn |archive-url=https://web.archive.org/web/20120729014948/http://www.volkswagen.vn/vn/en/company/history.html |archive-date=29 July 2012 |access-date=8 August 2012 |url-status=dead }}</ref> This vehicle was designed by [[Ferdinand Porsche]]'s consulting firm, and the company was backed by the support of [[Adolf Hitler]].<ref name=SmallWonder>{{cite book|last=Nelson|first=Walter|title=Small Wonder|year=1967|publisher=Little, Brown & Company|page=333}}</ref> On 16 September 1938, Gezuvor was renamed ''Volkswagenwerk [[GmbH]]'' ('Volkswagen Factory GmbH').{{Sfn|Volkswagen AG|2008a|p=1}}

Shortly after the factory at [[Fallersleben]] was completed [[World War II]] started, and the plant primarily manufactured the military [[Volkswagen Kübelwagen|Kübelwagen]] (Porsche Type 82) and the related amphibious [[Schwimmwagen]] (Type 166), both of which were derived from the Volkswagen. Only a small number of Type 60 Volkswagens were made during this time. The Fallersleben plant also manufactured the [[V-1 (flying bomb)|V-1 flying bomb]], making the plant a major bombing target for the Allied forces.

[[Slave]] labour was utilised in the Volkswagen plant, e.g. from [[Arbeitsdorf]] concentration camp. The company would admit in 1998 that it used 15,000 slaves during the war effort. German historians estimated that 80% of Volkswagen's wartime workforce was slave labour.<ref>{{cite book |title=Management Systems and Performance Frameworks for Sustainability: A Road Map for Sustainably Managed Enterprises |last1=James |first1=Lowellyne |edition=illustrated |publisher=Routledge |year=2018 |isbn=978-1-317-23450-0 |page=17 |url=https://books.google.com/books?id=nUhaDwAAQBAJ}} [https://books.google.com/books?id=nUhaDwAAQBAJ&pg=PT17 Extract of page 17]</ref> Many of the slaves were reported to have been supplied from the [[Nazi concentration camps|concentration camps]] upon request from plant managers. A lawsuit was filed in 1998 by survivors for restitution for the forced labour.<ref>{{cite news|title=Volkswagen Faces Suit Over Jewish Slave Labor |url=https://www.nytimes.com/1998/06/13/world/world-news-briefs-volkswagen-faces-suit-over-jewish-slave-labor.html |access-date=18 May 2011 |newspaper=The New York Times |date=13 June 1998|archive-url=https://web.archive.org/web/20121103234241/http://www.nytimes.com/1998/06/13/world/world-news-briefs-volkswagen-faces-suit-over-jewish-slave-labor.html |archive-date=3 November 2012 |url-status=live}}</ref> Volkswagen would set up a voluntary restitution fund.<ref>{{cite news |title=World: Americas German firms face slave labor case |url=http://news.bbc.co.uk/2/hi/americas/162126.stm |access-date=18 May 2011 |work=BBC News |date=1 September 1998 |archive-url=https://web.archive.org/web/20140529224344/http://news.bbc.co.uk/2/hi/americas/162126.stm |archive-date=29 May 2014 |url-status=live}}</ref>

===1945 to 1970===
[[File:VW Export, Bj. 1951.jpg|thumb|right|A 1951 [[Volkswagen Beetle]]]]
After the war in Europe, in June 1945, [[Ivan Hirst|Major Ivan Hirst]]<ref name=VW-intl-hist/> 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]]. However, no British car manufacturer was interested. A British report on the car said that "the vehicle does not meet the fundamental technical requirement of a motor-car … it is quite unattractive to the average buyer … To build the car commercially would be a completely uneconomic enterprise."<ref>{{cite news |url=https://www.theguardian.com/news/2000/mar/18/guardianobituaries |title=Obituaries&nbsp;– Ivan Hirst |work=The Guardian |date=18 March 2000 |access-date=3 February 2012 |location=London |archive-url=https://web.archive.org/web/20131204072755/http://www.theguardian.com/news/2000/mar/18/guardianobituaries |archive-date=4 December 2013 |url-status=live }}</ref> In 1948, the [[Ford Motor Company]] of USA was offered Volkswagen, but [[Ernest Breech]], a Ford executive vice president, said he did not think either the plant or the car was "worth a damn."<ref>Ford: The Times, the Man, the Company by Allan Nevins and Frank Ernest Nevins 1954</ref> Breech later said that he would have considered merging [[Ford of Germany]] and Volkswagen, but after the war, ownership of the company was in such dispute that nobody could possibly hope to be able to take it over. As part of the [[Industrial plans for Germany]], large parts of German industry, including Volkswagen, were to be dismantled. Total German car production was set at a maximum of 10% of the 1936 car production numbers.<ref>{{cite web |url=http://www.trumanlibrary.org/whistlestop/study_collections/marshall/large/documents/index.php?pagenumber=10&documentid=22&documentdate=1947-03-24&studycollectionid=mp&nav=OK |title=Harry S. Truman&nbsp;– Library & Museum&nbsp;– Draft, The President's Economic Mission to Germany and Austria, Report 3, March, 1947; OF 950B: Economic Mission as to Food...; Truman Papers |work=Trumanlibrary.org |access-date=3 February 2012 |archive-url=https://web.archive.org/web/20110211032355/http://www.trumanlibrary.org/whistlestop/study_collections/marshall/large/documents/index.php?pagenumber=10&documentid=22&documentdate=1947-03-24&studycollectionid=mp&nav=OK |archive-date=11 February 2011 |url-status=live }}</ref> The company survived by producing cars for the British Army, and in 1948 the British Government handed the company back over to the German state, and it was managed by former [[Opel]] chief [[Heinrich Nordhoff]].
[[File:Audi 75 in Rothenburg.jpg|thumb|right|The [[Audi F103]], in production from 1965 to 1972]]
Production of the Type 60 Volkswagen (re-designated [[Volkswagen Type 1|Type 1]]) started slowly after the war due to the need to rebuild the plant and because of the lack of raw materials, but production grew rapidly in the 1950s and 1960s. The company began introducing new models based on the Type 1, all with the same basic air-cooled, rear-engine, rear-drive platform. These included the [[Volkswagen Type 2]] in 1950, the [[Volkswagen Karmann Ghia]] in 1955, the [[Volkswagen Type 3]] in 1961, the [[Volkswagen Type 4]] in 1968, and the [[Volkswagen Type 181]] in 1969.

In 1960, upon the flotation of part of the [[German government|German federal government]]'s stake in the company on the German stock market, its name became ''Volkswagenwerk [[Aktiengesellschaft]]'' (usually abbreviated to ''Volkswagenwerk AG'').

On 1 January 1965, Volkswagenwerk acquired [[Auto Union|Auto Union GmbH]] from its parent company [[Daimler-Benz]]. The new subsidiary went on to produce the first post-war [[Audi]] models, the [[Audi F103]] series, shortly afterwards.<ref name="chronicle">{{cite book|title=Volkswagen Chronicle|editor1=Manfred Grieger|editor2=Ulrike Gutzmann|editor3=Dirk Schlinkert|publisher=Volkswagen AG|year=2008|series=Historical Notes|volume=7|isbn=978-3-935112-11-6|url=http://www.volkswagenag.com/content/vwcorp/info_center/en/publications/2010/05/chronicle.bin.html/binarystorageitem/file/HN7e_www2.pdf|access-date=31 May 2015|url-status=dead|archive-url=https://web.archive.org/web/20160304055559/http://www.volkswagenag.com/content/vwcorp/info_center/en/publications/2010/05/chronicle.bin.html/binarystorageitem/file/HN7e_www2.pdf|archive-date=4 March 2016}}</ref>

Another German manufacturer, [[NSU Motorenwerke AG]], was merged into Auto Union on 26 August 1969, creating a new company, Audi NSU Auto Union AG (later renamed [[Audi AG|AUDI AG]] in 1985).<ref name="chronicle"/>

===1970 to 1999===

[[File:VW Golf I Facelift front 20081209.jpg|thumb|right|A [[Volkswagen Golf Mk1]] - the Golf is the third-bestselling car of all time, selling over 30 million up to 2013.]]

From the late 1970s to 1992, the acronym '''V.A.G.''' was used by Volkswagen AG as a brand for group-wide activities, such as distribution and leasing. Contrary to popular belief, "V.A.G." had no official meaning, and was never the formal name of the Volkswagen Group.<ref name=TTAC.com>{{cite web|title=VW/Porsche: Auto Union? What the NSFW?|url=http://www.thetruthaboutcars.com/vwporsche-auto-union-what-the-nsfw/|last=Schmitt|first=Bertel|date=16 May 2009|work=TheTruthAboutCars.com|access-date=15 December 2009|archive-url=https://web.archive.org/web/20090519202627/http://www.thetruthaboutcars.com/vwporsche-auto-union-what-the-nsfw/|archive-date=19 May 2009|url-status=dead}}</ref>

On 30 September 1982, Volkswagenwerk made its first step expanding outside Germany by signing a co-operation agreement with the Spanish car manufacturer [[SEAT|SEAT, S.A.]]<ref name="chronicle"/>

To reflect the company's increasing global diversification from its headquarters and main plant (the [[Wolfsburg Volkswagen Plant|''Volkswagenwerk'' in Wolfsburg]]), on 4 July 1985, the company name was changed again—to ''Volkswagen Aktiengesellschaft'' (Volkswagen AG).

On 18 June 1986, Volkswagen AG acquired a 51% controlling stake in SEAT, making it the first non-German subsidiary of the Volkswagen Group. On 23 December the same year, it became the Spanish company's major shareholder by increasing its share up to 75%.<ref name="chronicle"/>

In 1990—after purchasing its entire equity—Volkswagen AG took over the full ownership of SEAT, making the company a wholly owned subsidiary, and on 28 March 1991, another step to the expansion of the group's activities was made through the signing of a joint-venture partnership agreement with [[Škoda Auto|Škoda automobilová a.s.]] of [[Czechoslovakia]], accompanied with the acquisition of a 30% stake in the Czech car manufacturer on 16 April 1991.<ref name="chronicle"/>

On 19 December 1994, the group began the acquisition of Škoda Auto by raising its share to 60.3%. Later, on 11 December 1995, it became the Czech company's largest and controlling shareholder by increasing its share up to 70%.<ref name="Skoda Auto ownership chronicle">{{cite web |url= http://www.volkswagenag.com/vwag/vwcorp/info_center/de/talks_and_presentations/2004/10/eastern_europe_investor.-bin.acq/qual-BinaryStorageItem.Single.File/20041006_mlada_boleslav.pdf |title= Skoda Auto ownership chronicle |url-status=dead |archive-url= https://web.archive.org/web/20101216033527/http://www.volkswagenag.com/vwag/vwcorp/info_center/de/talks_and_presentations/2004/10/eastern_europe_investor.-bin.acq/qual-BinaryStorageItem.Single.File/20041006_mlada_boleslav.pdf |archive-date= 16 December 2010 |df= dmy-all }}</ref>

Three prestige automotive marques were added to the Volkswagen portfolio in 1998: [[Bentley]], [[Lamborghini]], and [[Bugatti Automobiles|Bugatti]].<ref name="chronicle"/>

===2000 to present===
[[File:2009 Skoda Superb Elegance CRTDi Automatic 2.0 Front.jpg|thumb|The [[Škoda Superb]] B6, in production from 2008 to 2015]]
On 30 May 2000, after having gradually raised its equity share, Volkswagen AG took over the full ownership of Škoda Auto, making the company a wholly owned subsidiary.<ref name="chronicle"/>

From 2002 up to 2007, the Volkswagen Group's automotive division was restructured so that two major Brand Groups with different profile would be formed,<ref>{{cite web|url=https://www.autonews.com/homepage|archive-url=https://web.archive.org/web/20200829042122/https://www.autonews.com/homepage|url-status=dead|archive-date=29 August 2020|title=Automotive News|website=www.autonews.com|access-date=17 March 2019}}</ref> the ''Audi Brand Group'' focused on more sporty values&nbsp;– consisted of Audi, SEAT and Lamborghini&nbsp;– and the ''Volkswagen Brand Group'' on the field of classic values&nbsp;– consisted of Volkswagen, Skoda, Bentley and Bugatti<ref>{{cite web |url=http://www.volkswagenag.com/vwag/gb2006/content/en/Divisions/Business_Lines_and_Markets.html |title=Volkswagen Group&nbsp;– Business lines and markets |publisher=Volkswagen AG |access-date=3 February 2012 |url-status=dead |archive-url=https://archive.today/20120526224457/http://www.volkswagenag.com/vwag/gb2006/content/en/Divisions/Business_Lines_and_Markets.html |archive-date=26 May 2012 }}</ref><ref>{{cite web |url=http://www.volkswagenag.com/vwag/gb2007/content/en/divisions/business_lines_and_markets.html |title=Volkswagen Group&nbsp;– Brands and business fields |publisher=Volkswagen AG |access-date=3 February 2012 |url-status=dead |archive-url=https://archive.today/20120526224458/http://www.volkswagenag.com/vwag/gb2007/content/en/divisions/business_lines_and_markets.html |archive-date=26 May 2012 }}</ref>&nbsp;– with each Brand Group's product vehicles and performance being respectively under the higher responsibility of Audi and Volkswagen brands.

Volkswagen Group revealed on 24 October 2009 that it had made an offer to acquire long-time partner and German niche automotive manufacturer [[Karmann|Wilhelm Karmann GmbH]] out of bankruptcy protection.<ref name="bbg_20091024">{{cite news |url=https://www.bloomberg.com/apps/news?pid=20601100&sid=axvsfzNQEYqg |title=Volkswagen May Take Over Carmaker Karmann, Spiegel Reports |work=[[Bloomberg L.P.|Bloomberg]] |date=24 October 2009 }}</ref> In November 2009, the supervisory board of Volkswagen AG approved the acquisition of assets of Karmann, and planned to restart vehicle production at their [[Osnabrück]] plant in 2012.<ref name="pr-karman">{{cite web|url=http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/11/Karmann.html|title=Volkswagen Supervisory Board lays foundation for car manufacture at Karmann site in Osnabrück|date=20 November 2009|publisher=Volkswagen AG|work=VolkswagenAG.com|access-date=21 December 2009|url-status=dead|archive-url=https://web.archive.org/web/20110720053822/http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/11/Karmann.html|archive-date=20 July 2011}}</ref>

In December 2009, Volkswagen AG bought a 49.9% stake in [[Porsche|Dr. Ing. h.c. F. Porsche AG]] (more commonly known as Porsche AG) in a first step towards an 'integrated automotive group' with Porsche.<ref name=VWAG_merger>{{cite press release|url=http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/08/Volkswagen_Aufsichtsrat_stimmt_Grundlagenvereinbarung_fuer.html|title=Volkswagen Supervisory Board approves Comprehensive Agreement for an Integrated Automotive Group with Porsche|publisher=Volkswagen AG|date=13 August 2009|access-date=22 November 2009|url-status=dead|archive-url=https://web.archive.org/web/20110720053631/http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/08/Volkswagen_Aufsichtsrat_stimmt_Grundlagenvereinbarung_fuer.html|archive-date=20 July 2011}}</ref><ref>{{cite web|url=http://www.autoblog.com/2009/12/08/volkswagen-takes-49-9-percent-stake-in-porsche-ag|title=Volkswagen takes 49.9 percent stake in Porsche AG|date=8 December 2009 |publisher=Autoblog.com|access-date=2 April 2015|archive-url=https://web.archive.org/web/20141024142444/http://www.autoblog.com/2009/12/08/volkswagen-takes-49-9-percent-stake-in-porsche-ag/|archive-date=24 October 2014|url-status=live}}</ref><ref>{{cite web|title=Volkswagen takes 49.9 percent stake in Porsche AG|url=http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/12/Porsche_Beteiligung.html|publisher=Volkswagen AG|work=VolkswagenAG.com|date=7 December 2009|access-date=15 December 2009|url-status=dead|archive-url=https://web.archive.org/web/20110720053916/http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/12/Porsche_Beteiligung.html|archive-date=20 July 2011}}</ref> The [[mergers and acquisitions|merger]] of Volkswagen AG and Porsche SE was scheduled to take place during the course of 2011. On 8 September 2011, it was announced that the planned merger "cannot be implemented within the time frame provided for in the Comprehensive Agreement". As reasons, unquantifiable legal risks, including a criminal probe into the holding's former management team were given. Both parties "remain committed to the goal of creating an integrated automotive group with Porsche and are convinced that this will take place".<ref>{{cite news|title=Porsche loses investment appeal as VW merger skids AG|url=https://www.reuters.com/article/us-volkswagen-porsche-idUSTRE7884RP20110909|work=Reuters|agency=Reuters|date=9 September 2011|access-date=12 September 2011|archive-url=https://web.archive.org/web/20110910033611/http://www.reuters.com/article/2011/09/09/us-volkswagen-porsche-idUSTRE7884RP20110909|archive-date=10 September 2011|url-status=live}}</ref><ref>{{cite web|title=Merger of Volkswagen Aktiengesellschaft and Porsche Automobil Holding SE no longer expected within the time frame laid down in the Comprehensive Agreement|url=https://www.volkswagen-media-services.com/medias_publish/ms/content/en/pressemitteilungen/2011/09/08/merger_of_volkswagen.html;jsessionid=1b22b28e-aa93-af45-85d5-67a780d167bf?actionID=ms|publisher=Volkswagen AG|date=8 September 2011|access-date=12 September 2011|archive-url=https://web.archive.org/web/20120320172503/https://www.volkswagen-media-services.com/medias_publish/ms/content/en/pressemitteilungen/2011/09/08/merger_of_volkswagen.html;jsessionid=1b22b28e-aa93-af45-85d5-67a780d167bf?actionID=ms|archive-date=20 March 2012|url-status=dead}}</ref>

On 4 July 2012 Volkswagen group announced they would wrap up the remaining half of [[Porsche]] shares for 4.46 billion euros (US$5.58 billion) on 1 August 2012 to avoid taxes of as much as 1.5 billion euros, which would have to be paid if the wrap up happened after 31 July 2014.<ref>{{cite web |url=https://www.theguardian.com/business/feedarticle/10321020 |title=Volkswagen aims to wrap up Porsche purchase on Aug 1 |website=[[TheGuardian.com]] |date=4 July 2012 |access-date=13 December 2016 |archive-url=https://web.archive.org/web/20151016051844/http://www.theguardian.com/business/feedarticle/10321020 |archive-date=16 October 2015 |url-status=live }}</ref> Volkswagen AG purchased the remaining stake in Porsche AG equaling 100% of the shares in Porsche Zwischenholding GmbH, effectively becoming its parent company as of 1 August 2012.<ref name="VolkswagentoBuyPorsche">{{cite news|last1=Scott|first1=Mark|title=Volkswagen to Buy Remaining Stake in Porsche|url=https://dealbook.nytimes.com/2012/07/05/volkswagen-to-buy-remaining-stake-in-porsche/|work=The New York Times|date=5 July 2012|access-date=7 May 2018|archive-url=https://web.archive.org/web/20180508054155/https://dealbook.nytimes.com/2012/07/05/volkswagen-to-buy-remaining-stake-in-porsche/|archive-date=8 May 2018|url-status=live}}</ref>

Volkswagen AG completed the purchase of 19.9% of [[Suzuki|Suzuki Motor Corporation]]'s issued shares on 15 January 2010.<ref>{{cite web|title=Volkswagen completes Suzuki tieup|date=15 January 2010|work=The Japan Times|url=http://search.japantimes.co.jp/cgi-bin/nb20100116a4.html|access-date=16 January 2010|archive-url=https://web.archive.org/web/20100119174845/http://search.japantimes.co.jp/cgi-bin/nb20100116a4.html|archive-date=19 January 2010}}</ref><ref>{{cite web|title=Volkswagen and Suzuki agreed to establish a comprehensive partnership|url=http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/12/Suzuki.html|publisher=Volkswagen AG|work=VolkswagenAG.com|date=9 December 2009|access-date=15 December 2009|url-status=dead|archive-url=https://web.archive.org/web/20100605165648/http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2009/12/Suzuki.html|archive-date=5 June 2010}}</ref> Suzuki invested part of the amount received from Volkswagen into 1.49% percent of Volkswagen.<ref>[https://www.bloomberg.com/news/2011-09-12/suzuki-executives-to-discuss-ending-capital-alliance-with-volkswagen.html Suzuki Seeks 'Divorce' From Volkswagen as Their 20-Month Alliance Crumbles] {{Webarchive|url=https://web.archive.org/web/20150121184014/http://www.bloomberg.com/news/2011-09-12/suzuki-executives-to-discuss-ending-capital-alliance-with-volkswagen.html |date=21 January 2015 }}. Bloomberg. Retrieved on 16 July 2013.</ref> In 2011, Suzuki filed a lawsuit at an arbitration court in London requesting that Volkswagen return the 19.9% stake.<ref>[http://online.wsj.com/article/BT-CO-20130314-703432.html VW Expects Suzuki Decision Mid-2013 at Earliest – WSJ.com] {{Webarchive|url=https://web.archive.org/web/20140306230301/http://online.wsj.com/article/BT-CO-20130314-703432.html |date=6 March 2014 }}. Online.wsj.com (14 March 2013). Retrieved on 16 July 2013.</ref>

On 25 May 2010, it was announced that Volkswagen Group, through its subsidiary Lamborghini Holding S.p.A., had acquired a 90.1% stake in the Italian [[automotive design]] house [[Italdesign Giugiaro]].<ref name="vw-italdesign">{{cite web|title=Volkswagen Group takes majority shareholding in Italdesign Giugiaro |url=http://www.volkswagenag.com/vwag/vwcorp/info_center/en/themes/2010/05/Volkswagen_Group_takes_majority_shareholding_in_Italdesign_Giugiaro.html |work=volkswagenag.com|publisher=Volkswagen AG |date=25 May 2010|url-status=dead|archive-url=https://web.archive.org/web/20110111104826/http://www.volkswagenag.com/vwag/vwcorp/info_center/en/themes/2010/05/Volkswagen_Group_takes_majority_shareholding_in_Italdesign_Giugiaro.html |archive-date=11 January 2011}}</ref>
In less than three months, the transaction had been completed making the Italian firm a member of the Volkswagen Group.<ref>{{cite web |url=http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2010/08/Volkswagen_Group_completes_acquisition_of_majority_shareholding_in_Italdesign_Giugiaro.html |title=Volkswagen Group completes acquisition of majority shareholding in Italdesign Giugiaro |publisher=Volkswagen AG |date=9 August 2010 |access-date=3 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20110109180833/http://www.volkswagenag.com/vwag/vwcorp/info_center/en/news/2010/08/Volkswagen_Group_completes_acquisition_of_majority_shareholding_in_Italdesign_Giugiaro.html |archive-date=9 January 2011 }}</ref> Since 2013 the Volkswagen Group has held a 89.7% stake in [[Traton]].

In 2015 research showed a security flaw in the keyless ignition of Volkswagen and other carmakers' vehicles. Volkswagen spent two years trying to keep the research from the public domain.<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2015-08-14/vw-has-spent-two-years-trying-to-hide-a-big-security-flaw|title=VW Has Spent Two Years Trying to Hide a Big Security Flaw|author=Olivia Solon|date=14 August 2015|work=Bloomberg.com|access-date=25 September 2015|archive-url=https://web.archive.org/web/20150924225823/http://www.bloomberg.com/news/articles/2015-08-14/vw-has-spent-two-years-trying-to-hide-a-big-security-flaw|archive-date=24 September 2015|url-status=live}}</ref>{{undue weight inline|date=August 2015}}

On 3 August 2015, [[Nokia]] announced that it had reached a deal to sell its [[Here (Nokia)|Here]] digital maps division to a consortium of three German automakers—[[BMW]], [[Daimler AG]], and Volkswagen Group, for €2.8 billion.<ref name=cnet-heresale>{{cite web|title=Nokia sells Here maps business to carmakers Audi, BMW and Daimler|url=https://cnet.com/news/nokia-sells-here-maps-business-to-carmaker-consortium-of-audi-bmw-and-daimler/|website=CNET|publisher=CBS Interactive|access-date=3 August 2015|archive-url=https://web.archive.org/web/20150805002355/http://www.cnet.com/news/nokia-sells-here-maps-business-to-carmaker-consortium-of-audi-bmw-and-daimler/|archive-date=5 August 2015|url-status=live}}</ref> This was seen as an indication that the automakers were interested in automated cars.

Volkswagen held a 19.9% non-controlling shareholding in [[Suzuki]] between 2009 and 2015. An international arbitration court ordered Volkswagen to sell the stake back to Suzuki.<ref>{{cite news|title=VW and Suzuki settle four-year dispute|url=https://www.bbc.com/news/business-34103944|publisher=BBC|date=30 August 2015|access-date=21 June 2018|archive-url=https://web.archive.org/web/20180627062635/https://www.bbc.com/news/business-34103944|archive-date=27 June 2018|url-status=live}}</ref> On 17 September 2015, Suzuki paid $3.8bn to complete the stock buy-back just hours prior to a [[Volkswagen emissions violations|major scandal about emissions violations]] engulfing Volkswagen. Suzuki had wished to buy [[Fiat]] diesel engines.<ref name=bbcSuzuki>{{cite news |title= Suzuki buys back Volkswagen's stake for $3.8bn |url= https://www.bbc.com/news/business-34275917 |publisher= BBC |date= 17 September 2015 |archive-url= https://web.archive.org/web/20160723230010/http://www.bbc.com/news/business-34275917 |archive-date= 23 July 2016 |url-status=live |quote= The deal between the carmakers soured soon after it was formed in 2009. The companies had agreed to work together on fuel-efficient cars, but Suzuki accused Volkswagen of withholding information it had promised to share. Volkswagen, meanwhile, had objected to a deal Suzuki made to buy diesel engines from Italian carmaker Fiat. |df= dmy-all }}</ref>

In 2021, Volkswagen sold their 55% stake in [[Bugatti Automobiles|Bugatti]] to [[Rimac Automobili|Rimac Group]] while transferring the remaining 45% to [[Porsche AG]], forming a joint venture company called [[Bugatti Rimac]].<ref name="rimac">{{Cite web |title=Bugatti and Rimac begin cooperation |url=https://www.bugatti.com/media/news/2021/bugatti-and-rimac-begin-cooperation/ |access-date=2022-01-27 |website=www.bugatti.com |language=en |archive-date=6 November 2021 |archive-url=https://web.archive.org/web/20211106160616/https://www.bugatti.com/media/news/2021/bugatti-and-rimac-begin-cooperation/ |url-status=dead }}</ref>

In early 2024, Volkswagen Group began looking for partners among international technology corporations to create [[AI]] labs, new [[Digital prototyping|digital prototypes]] of products and functions using artificial intelligence.<ref>{{Cite web|language=en|url=https://www.autonews.com/china/vw-founds-ai-lab-it-talks-potential-tech-partners|title=VW founds AI lab, in talks with potential partners|website=Autonews|access-date=2024-02-08|archive-date=2024-02-08|archive-url=https://web.archive.org/web/20240208010635/https://www.autonews.com/china/vw-founds-ai-lab-it-talks-potential-tech-partners?__cf_chl_rt_tk=4szavfGcWRi3ZzypUV9OaDJQU61L1uLa4JI2nbe8CLw-1707354395-0-zQ17}}</ref>

In October 2024, Volkswagen plans to close at least three plants in Germany and cut jobs, facing challenges from delayed EV investments and a drop in Chinese sales.<ref>{{Cite news |date=28 October 2024|title=Exclusive: China's Xi pressed Biden to alter language on Taiwan|newspaper=Reuters|url=https://www.reuters.com/world/chinas-xi-pressed-biden-alter-language-taiwan-sources-say-2024-10-29/ |access-date=29 October 2024}}</ref>

====Emissions scandal, 2015====

{{Main|Volkswagen emissions scandal}}

On 18 September 2015, the US EPA announced that Volkswagen had installed a "defeat device" software code in the diesel models sold in the US from 2009 to 2015.<ref name="yosemite.epa.gov">{{cite web|url=https://www.epa.gov/newsreleases/epa-california-notify-volkswagen-clean-air-act-violations-carmaker-allegedly-used|title=09/18/2015: EPA, California Notify Volkswagen of Clean Air Act Violations / Carmaker allegedly used software that circumvents emissions testing for certain air pollutants|work=epa.gov|archive-url=https://web.archive.org/web/20160911191545/https://www.epa.gov/newsreleases/epa-california-notify-volkswagen-clean-air-act-violations-carmaker-allegedly-used|archive-date=11 September 2016|url-status=dead|access-date=25 September 2015}}</ref> The code was intended to detect when an emissions test was being conducted, and altered emissions controls for better compliance. Off the test stand, the controls were relaxed, and emissions jumped 35 to 40 times regulatory levels according to investigators at West Virginia University and the California Air Resources Board. About 482,000 vehicles are under the recall order, a potential $18 billion ($37,500 per violation) in fines are pending, and news accounts speculate a criminal indictment for the deception is certain.<ref>{{cite web|url=https://huffingtonpost.com/entry/volkswagen-executives-prosecution_55fd9749e4b00310edf74f5d|title=The Justice Department Pledge To Prosecute White-Collar Criminals Is About To Face A Major Test|author=Bloomberg/Getty Images|date=19 September 2015|work=The Huffington Post|access-date=25 September 2015|archive-url=https://web.archive.org/web/20150923115647/http://www.huffingtonpost.com/entry/volkswagen-executives-prosecution_55fd9749e4b00310edf74f5d|archive-date=23 September 2015|url-status=live}}</ref><ref>{{cite magazine|url=https://www.wired.com/2015/09/epa-accuses-volkswagen-cheating-emissions-testing-482000-cars/|title=EPA Accuses VW of Cheating Smog Testing on 482,000 Cars|date=18 September 2015|magazine=WIRED|access-date=25 September 2015|archive-url=https://web.archive.org/web/20150923141416/http://www.wired.com/2015/09/epa-accuses-volkswagen-cheating-emissions-testing-482000-cars/|archive-date=23 September 2015|url-status=live}}</ref> The VW Group CEO, [[Martin Winterkorn]], said he was "deeply sorry" and ordered an external investigation.<ref>{{cite web|url=https://www.usatoday.com/story/money/cars/2015/09/20/volkswagen-ceo-martin-winterkorn-apologizes-epa-clean-air-act-emissions-violations/72519678/|title=Volkswagen CEO apologizes, orders external probe on emissions allegations|date=20 September 2015|work=USA TODAY|access-date=25 September 2015|archive-url=https://web.archive.org/web/20150924121232/http://www.usatoday.com/story/money/cars/2015/09/20/volkswagen-ceo-martin-winterkorn-apologizes-epa-clean-air-act-emissions-violations/72519678/|archive-date=24 September 2015|url-status=live}}</ref> The software code was only revealed when the EPA refused to certify VW's 2016 models for sale in the US unless the corporation provided full disclosure.<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2015-09-19/volkswagen-emissions-cheating-found-by-curious-clean-air-group|title=VW's Emissions Cheating Found by Curious Clean-Air Group |newspaper=Bloomberg.com|date=19 September 2015 |access-date=17 March 2019}}</ref> On Sunday, 20 September 2015, VW Group announced it was halting the sale of its four-cylinder diesel models in the US.<ref>{{cite web|url=https://news.yahoo.com/volkswagen-investigate-breach-u-environment-rules-130056470--finance.html|title=Volkswagen to halt U.S. sales of some 2015 diesel cars|date=20 September 2015|work=Yahoo News|access-date=25 September 2015|archive-url=https://web.archive.org/web/20150925143955/http://news.yahoo.com/volkswagen-investigate-breach-u-environment-rules-130056470--finance.html|archive-date=25 September 2015|url-status=live}}</ref> The US EPA press release on its Notice of Violation,<ref name="yosemite.epa.gov"/> and the California Air Resources Board letter<ref>{{cite web|url=http://www.arb.ca.gov/newsrel/in_use_compliance_letter.htm|title=ARB Letter to VW|work=ca.gov|access-date=25 September 2015|archive-url=https://web.archive.org/web/20150924171219/http://www.arb.ca.gov/newsrel/in_use_compliance_letter.htm|archive-date=24 September 2015|url-status=dead}}</ref> dated 18 September 2015 contain significant chronological detail of the agencies interaction with VW on the issue.

On 22 September 2015, VW AG admitted that 11 million cars worldwide had been [[Volkswagen emissions scandal|fitted with software intended to deceive emissions testing]]. The company issued a profit warning, saying it had set aside $7 billion to fix the fraud.<ref>{{cite news|url=https://www.nytimes.com/2015/09/23/business/international/volkswagen-diesel-car-scandal.html|title=Volkswagen Says 11 Million Cars Worldwide Are Affected in Diesel Deception|first=Jack|last=Ewing|newspaper=The New York Times|date=22 September 2015|access-date=17 March 2019|archive-url=https://web.archive.org/web/20170304002510/https://www.nytimes.com/2015/09/23/business/international/volkswagen-diesel-car-scandal.html|archive-date=4 March 2017|url-status=live}}</ref> On 23 September 2015, Martin Winterkorn announced his resignation from the CEO position after a crisis meeting of the company board.<ref>{{cite web|url=https://finance.yahoo.com/news/volkswagen-ceo-steps-down-takes-160222605.html|title=Volkswagen CEO steps down, takes responsibility for scandal|date=24 September 2015|work=Yahoo Finance|access-date=25 September 2015|url-status=dead|archive-url=https://web.archive.org/web/20150925085824/http://finance.yahoo.com/news/volkswagen-ceo-steps-down-takes-160222605.html|archive-date=25 September 2015}}</ref> On 25 September 2015 [[Matthias Müller (businessman)|Matthias Müller]] was named CEO.<ref>{{cite news|url=https://www.nytimes.com/2015/09/26/business/volkswagen-namesmuller-an-insider-as-chief-executive.html|title=Volkswagen Names Matthias Müller, an Insider, as Chief Executive|first1=Jack|last1=Ewing|first2=Bill|last2=Vlasic|newspaper=The New York Times|date=25 September 2015|access-date=17 March 2019|archive-url=https://web.archive.org/web/20181127234450/https://www.nytimes.com/2015/09/26/business/volkswagen-namesmuller-an-insider-as-chief-executive.html|archive-date=27 November 2018|url-status=live}}</ref> Müller was the head of the Porsche marque within the VW corporate umbrella.<ref>{{cite web|url=http://www.businessinsider.com/report-volkswagen-ceo-is-out-2015-9|title=Volkswagen's CEO is staying at the company - Business Insider|date=22 September 2015|work=Business Insider|access-date=25 September 2015|archive-url=https://web.archive.org/web/20150924223828/http://www.businessinsider.com/report-volkswagen-ceo-is-out-2015-9|archive-date=24 September 2015|url-status=live}}</ref>

On 21 April 2017, a U.S. federal judge ordered Volkswagen "to pay a $2.8 billion criminal fine for rigging diesel-powered vehicles to cheat on government emissions tests". The "unprecedented" plea deal formalized a punishment that Volkswagen AG agreed to earlier in 2017.<ref name=wsj-vk-plea>{{cite news |last=Rogers |first=Christina |date=21 April 2017 |title=Judge Slaps VW With $2.8 Billion Criminal Fine in Emissions Fraud |url=https://www.wsj.com/articles/judge-slaps-vw-with-2-8-billion-criminal-fine-in-emissions-fraud-1492789096 |work=[[Wall Street Journal]] |access-date=23 April 2017 |archive-url=https://web.archive.org/web/20170423232735/https://www.wsj.com/articles/judge-slaps-vw-with-2-8-billion-criminal-fine-in-emissions-fraud-1492789096 |archive-date=23 April 2017 |url-status=live }}</ref> In addition, the plea deal includes a $1.5 billion settlement for various environmental, customs and financial violations.<ref>{{cite news|url=https://www.justice.gov/opa/pr/volkswagen-ag-agrees-plead-guilty-and-pay-43-billion-criminal-and-civil-penalties-six|title=Volkswagen AG Agrees to Plead Guilty and Pay $4.3 Billion in Criminal and Civil Penalties; Six Volkswagen Executives and Employees are Indicted in Connection with Conspiracy to Cheat U.S. Emissions Tests|date=11 January 2017|access-date=23 October 2019|archive-url=https://web.archive.org/web/20191018050709/https://www.justice.gov/opa/pr/volkswagen-ag-agrees-plead-guilty-and-pay-43-billion-criminal-and-civil-penalties-six|archive-date=18 October 2019|url-status=live}}</ref>

Overall, Volkswagen will pay more than $30 billion in penalties and lawsuit settlements related to the scandal.<ref name="charges">{{cite news |url=https://phys.org/news/2019-01-grand-jury-audi-emissions-case.html |title=Grand jury charges four Audi managers in emissions case |publisher=Phys.org |date=18 January 2019 |access-date=23 October 2019 |archive-url=https://web.archive.org/web/20191023183015/https://phys.org/news/2019-01-grand-jury-audi-emissions-case.html |archive-date=23 October 2019 |url-status=live }}</ref>

====Huge debt====
In its own financial report for 2023 Volkswagen Group estimated its long, medium and short term debt at 155,6 Billion Euros.<ref>{{cite web|title=Annual financial report 2023|url=https://annualreport2023.volkswagen-group.com/group-management-report/volkswagen-ag/net-assets-and-financial-position.html|access-date=2024-11-25}}</ref> It is unclear how Volkswagen group plans to pay off that massive debt considering its falling global vehicle deliveries,<ref>{{cite web|title=Volkswagen deliveries down - Reuters|website=[[Reuters]] |url=https://www.reuters.com/business/autos-transportation/volkswagen-q3-deliveries-down-confirming-challenges-european-auto-sector-2024-10-11/|access-date=2024-11-25}}</ref> planned closure of at least 3 factories in Germany<ref>{{cite web|title=Historic moment for Volkswagen: Automaker plans to close 'at least' 3 German plants and cut thousands of jobs - CNN|date=28 October 2024 |url=https://edition.cnn.com/2024/10/28/business/volkswagen-factory-closures-layoffs/index.html|access-date=2024-11-25}}</ref> after it previously closed 2 factories in Russia<ref>{{cite web|title=Volkswagen stops production of vehicles in Russia and suspends export|date=3 March 2022 |url=https://www.volkswagen-group.com/en/press-releases/volkswagen-stops-production-of-vehicles-in-russia-and-suspends-export-16813/}}</ref> as well as 64% drop in profit for the three months to the end of September 2024.<ref>{{cite news|title=Volkswagen profit plunges 64% as China sales slide - Financial times|newspaper=Financial Times |date=30 October 2024 |url=https://www.ft.com/content/b5d916ad-2fda-46cb-838a-070c092861af|access-date=2024-11-25 |last1=Inagaki |first1=Kana |last2=Pitel |first2=Laura |last3=Nilsson |first3=Patricia }}</ref> German Chancellor [[Olaf Scholz]] criticized Volkswagen's plan to close factories in Germany.<ref>{{cite news |title=Volkswagen plant closures 'not the right way', Germany's Scholz says |url=https://www.reuters.com/business/autos-transportation/volkswagen-plant-closures-not-right-way-germanys-scholz-says-2024-12-07/ |work=Reuters |date=7 December 2024}}</ref> He proposed a European [[Government incentives for plug-in electric vehicles|subsidy program]] for electric vehicles.<ref>{{cite news |title=Germany's Scholz calls for Europe EV subsidy plan |url=https://www.france24.com/en/live-news/20241210-germany-s-scholz-calls-for-europe-ev-subsidy-plan |work=France 24 |date=10 December 2024}}</ref> 

Latest setback for Volkswagen came on 21 November 2024, when Swedish battery producer [[Northvolt]] filed for bankruptcy, Volkswagen previously invested 1.4 billion euros in their failed business.<ref>{{cite news|title=Volkswagen wrote down majority of its stake in Northvolt over past year - Financial Times|newspaper=Financial Times |url=https://www.ft.com/content/5f5acae6-8c97-499c-a2c3-35671f658f28|access-date=2024-11-25 |last1=Inagaki |first1=Kana |last2=Novik |first2=Mari |last3=Nilsson |first3=Patricia }}</ref> On 27 November 2024, Volkswagen announced sale of its Xinijang factory in China partly because "demand for combustion engine vehicles is going down".<ref>{{Cite web |last=Cooban |first=Anna |date=2024-11-27 |title=Volkswagen sells its car plant in Xinjiang, citing 'economic reasons' |url=https://edition.cnn.com/2024/11/27/business/volkswagen-china-xinjiang-plant-sold-intl/index.html |access-date=2024-11-28 |website=CNN |language=en}}</ref>

Former member of Croatian parliament [[Ivan Pernar (politician, born 1985)|Ivan Pernar]] warned that due to the overall financial situation Volkswagen might go bankrupt just as "too big to fail" heavily indebted [[Evergrande Group]] did. He also questioned how will EU tariffs on Chinese cars save Volkswagen when 50% of its sales are in China itself and not in the EU, as well as its management decision to exit the Russian market.<ref>{{cite web|title=Ivan Pernar Telegram account|url=https://t.me/pernar/20195|access-date=2024-11-25}}</ref>

====Electrification strategy 2025====
[[File:Volkswagen ID.3 at IAA 2019 IMG 0779.jpg|thumb|VW Group has invested in a wide-ranging electrification strategy in Europe, North America and China, with its [[Volkswagen Group MEB platform|electric "MEB" platform]].]]
In 2016, Volkswagen Group announced a corporate "Strategy 2025" that focuses on electrification of its portfolio.<ref>William Boston. [https://www.wsj.com/articles/vw-ceos-strategy-overhaul-focuses-on-electric-vehicles-1466073807 "Strategie 2025" VW CEO's Strategy Overhaul Focuses on Electric Vehicles] {{Webarchive|url=https://web.archive.org/web/20170205103123/https://www.wsj.com/articles/vw-ceos-strategy-overhaul-focuses-on-electric-vehicles-1466073807 |date=5 February 2017 }}. ''[[The Wall Street Journal]]''. Published on 16 June 2016.</ref> The VW Group developed the [[Volkswagen Group MEB platform]] chassis that will be utilized in a range of various cars and light [[utility vehicle]]s across several VW Group marques due to its flexibility and floor-mounted battery.<ref>Christiaan Hetzner. [http://www.autonews.com/article/20160528/OEM05/305309989/vw-weighs-second-ev-platform VW weighs second EV platform]. ''[[Automotive News]]''. 28 May 2016.</ref>

As of May 2018, the VW Group has committed $48 billion in [[Electric-vehicle battery|car battery]] supplies<ref name="fortune May 3, 2018">[http://fortune.com/2018/05/03/vw-tesla-electric-car-batteries/ VW doubles its electric vehicle battery contracts to $48 billion] {{Webarchive|url=https://web.archive.org/web/20180606013104/http://fortune.com/2018/05/03/vw-tesla-electric-car-batteries/ |date=6 June 2018 }}. ''[[Fortune (magazine)|Fortune]]''. 3 May 2018.</ref> and plans to outfit 16 factories to build [[electric car]]s by the end of 2022.<ref>Darrell Etherington. [https://techcrunch.com/2018/03/13/volkswagen-has-locked-down-25b-in-battery-supplies-for-its-electric-vehicle-push/  Volkswagen has locked down $25B in battery supplies for its electric vehicle push] {{Webarchive|url=https://web.archive.org/web/20180503180457/https://techcrunch.com/2018/03/13/volkswagen-has-locked-down-25b-in-battery-supplies-for-its-electric-vehicle-push/ |date=3 May 2018 }} [[TechCrunch]]. 13 March 2018.</ref> According to VW Group CEO [[Dr. Herbert Diess]], the company will offer 25 electric models and 20 plug-in hybrids by 2020.<ref name="fortune May 3, 2018"/>

==== Production in Xinjiang ====
Volkswagen Group came under pressure for cooperating with the Chinese government in the region of [[Xinjiang]]. In that same region, western-funded NGOs accused the Chinese government of having [[Persecution of Uyghurs in China|committed human rights]] abuses against the [[Uyghurs|Uyghur]] minority group, which included [[Mass surveillance in China|mass surveillance]], incarceration, and forced labor. After these accusations emerged, Volkswagen responded, "We do not assume any of our employees are forced laborers."<ref name="DW-2019">{{Cite web|last=Welle (www.dw.com)|first=Deutsche|title=Volkswagen defends presence in China's Xinjiang amid uproar over Uighur abuses {{!}} DW {{!}} 26 November 2019|url=https://www.dw.com/en/volkswagen-defends-presence-in-chinas-xinjiang-amid-uproar-over-uighur-abuses/a-51427056|access-date=16 December 2020|website=DW.COM|language=en-GB}}</ref> ''[[Süddeutsche Zeitung]]'' claimed that Volkswagen was operating a plant in Xinjiang at a loss in order to curry favor with the Chinese government to set up more lucrative plants in other parts of China, which Volkswagen denied, saying that the decision to set up the plant in 2012 was purely based on economics.<ref name="DW-2019" /> In November 2024, Volkswagen announced it would sell the plant to Shanghai Motor Vehicle Inspection Certification.<ref>{{Cite news |date=24 April 2025 |title=VW buckles after years of pressure to sell up in Xinjiang |url=https://www.reuters.com/business/autos-transportation/vw-exit-xinjiang-operation-with-sales-local-plant-test-track-sources-say-2024-11-27/ |access-date=27 November 2024 |work=Reuters |language=en-GB}}</ref>

==== New Auto ====
In 2021, Volkswagen Group released their ''New Auto'' strategy. The strategy was based on [[European Green Deal|transitioning to electric car]]s, and building a shared platform, battery systems, software and mobility solutions to use across all their brands.<ref name="2021-03-16-vw-pr">{{cite news |title=Volkswagen Group set to use platform model for issues of the future |url=https://www.volkswagenag.com/en/news/2021/03/VolkswagenGroup_set_platform_model.html |access-date=16 July 2021 |work=www.volkswagenag.com |date=16 March 2021 |archive-date=16 July 2021 |archive-url=https://web.archive.org/web/20210716112252/https://www.volkswagenag.com/en/news/2021/03/VolkswagenGroup_set_platform_model.html |url-status=dead }}</ref><ref name="2021-07-14-ars">{{cite news |last1=Gitlin |first1=Jonathan M. |title=VW Group's 10-year plan: A single EV platform across all its brands |url=https://arstechnica.com/cars/2021/07/vw-groups-10-year-plan-a-single-ev-platform-across-all-its-brands/ |access-date=15 July 2021 |work=Ars Technica |date=14 July 2021 |language=en-us}}</ref> This involves creating the [[Volkswagen Group Scalable Systems Platform|Scalable Systems Platform]], as well as developing software under a new subsidiary [[CARIAD]].<ref name="2021-03-16-vw-pr" /><ref name="2021-07-14-ars" /> Volkswagen Group aims by 2024 to transition to selling mostly electric cars.<ref name="2021-07-13-ft">{{cite news |last1=Miller |first1=Joe |title=VW lifts profit targets as it outlines battery production plans |url=https://www.ft.com/content/cf53d51f-bcb2-46e1-a0e3-e86e9eeba13c |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/cf53d51f-bcb2-46e1-a0e3-e86e9eeba13c |archive-date=10 December 2022 |url-access=subscription |access-date=16 July 2021 |work=Financial Times |date=13 July 2021}}</ref> It aims to have six [[Gigafactory|battery factories]] in Europe by 2030.<ref name="2021-07-13-ft" /> In 2023, Volkswagen Group announced plans to cut costs by €10 billion ($11.1 billion).<ref>{{cite news |title='A very serious situation': Volkswagen could close plants in Germany for the first time in history |url=https://edition.cnn.com/2024/09/02/investing/volkswagen-factory-closure-germany/index.html |work=CNN |date=2 September 2024}}</ref> In February 2024, Volkswagen Group and Chinese [[electric vehicle]] manufacturer [[XPeng]] signed a technology cooperation and joint development agreement on platform and software.<ref>{{Cite web |date=2024-02-29 |title=Ready for next EV push: Volkswagen enters into agreement with XPENG for fast joint development of two smart e-cars |url=https://www.volkswagen-group.com/en/articles/ready-for-next-ev-push-volkswagen-enters-into-agreement-with-xpeng-for-fast-joint-development-of-two-smart-e-cars-18246 |access-date=2024-04-17 |website=Volkswagen Group |language=en}}</ref>