Volkswagen (VW) was founded in 1937 in Wolfsburg, [[Germany]], initially as a state-owned enterprise under the Nazi regime to produce affordable cars ("people's car"). The company was later reorganized in 1948 under British administration and transferred to German ownership in 1960. Key developments: - 1937: Founded by German Labor Front - 1948: Transferred to West German government control - 1960: Partial privatization - 1965: Acquired Auto Union (later became Audi) - 2009: Porsche merger - 2015: Diesel emissions scandal Ownership: - Major shareholders include: * Porsche-Piëch family (through Porsche SE, ~32%) * State of Lower Saxony (~20%) * Qatar Investment Authority (~10.5%) * Public float The company has grown into one of the world's largest automotive groups, owning multiple brands including: - Audi - Porsche - SEAT - ŠKODA - Bentley - Lamborghini - Others The company maintains a unique governance structure with significant influence from both the Porsche-Piëch family and the State of Lower Saxony.