Is Skoda a subsidiary of Volkswagen?
1 Answers
Skoda is one of the automotive brands under the Volkswagen Group. On April 16, 1991, Skoda became a subsidiary of the German Volkswagen Group, with Volkswagen acquiring 70% of Skoda's shares. The remaining 30% was purchased in 2000, making Skoda the fourth major brand under Volkswagen, following Volkswagen (VW), Audi, and SEAT. In 2006, the Skoda Octavia began production at Shanghai Volkswagen, becoming the third Volkswagen Group brand to be manufactured in China, after Volkswagen and Audi. It was launched at the Beijing International Auto Show the same year. By the end of 2008, Shanghai Volkswagen introduced the Skoda Fabia to the Chinese market. In 2009, the Skoda Superb was also introduced to mainland China and went on sale in August of that year. The Skoda Rapid was officially launched in China on April 18, 2013. Skoda Auto's headquarters is located in Mladá Boleslav, a small town north of Prague, the capital of the Czech Republic. The company currently employs nearly 22,000 people and has hundreds of domestic and international suppliers. It has achieved an annual production and sales volume of 450,000 vehicles. Germany is Skoda's largest export market, with over 70,000 Skoda vehicles sold there in 2003, followed by the United Kingdom, where Skoda has become the second-largest imported car brand.
