Key facts
- Volkswagen was founded in May 1937 by the Nazi labour organisation German Labour Front (DAF).
- The company's first mass-produced car, the KdF-Wagen, was the precursor to the VW Beetle.
- British Army engineer Ivan Hirst restarted Beetle production after World War Two.
- Volkswagen acquired the Audi brand in 1965, beginning its transition to a multibrand empire.
- The 'Dieselgate' emissions scandal in 2015 cost the company over €32 billion in fines and legal costs.
- BYD dethroned Volkswagen as China's top-selling automaker in 2023.
Volkswagen, founded in 1937 by the Nazi labour organisation German Labour Front (DAF), has evolved from a single-model company to the world's second-largest automaker. The company's history includes the development of the Beetle, its privatisation in 1960, the acquisition of Audi in 1965, and the launch of the Golf in 1974. Volkswagen's expansion into China began in 1983 with the first Chinese-built VW Santana. The 'Dieselgate' emissions scandal in 2015 resulted in over €32 billion in fines and legal costs. The company is now pivoting to electric vehicles, but faces challenges from Chinese competitors like BYD, which surpassed Volkswagen as China's top-selling automaker in 2023. Volkswagen is planning significant job cuts and potential plant closures as part of a major restructuring.