AUTOMOTIVE
SEPTEMBER 10, 2021
Summary Of Audi Company
The summary of Audi company : Audi AG is a German automotive manufacturer. It began when August Horch started his own business on November 14, 1899 the A. Horch & Cie. in the Ehrenfeld district of Cologne where he built his very first car in 1901. In 1902, he moved with his company to Reichenbach im Vogtland and on May 10, 1904 he founded he founded the August Horch & Cie. Motorwagenwerke AG in Zwickau, Saxony.
Due to differences of opinion and troubles with the Board of Management and Supervisory Board, August Horch left the company in 1909 and immediately established a second car company in Zwickau, the August Horch Automobilwerke GmbH. But due to some trademark infringement issues with his former business allies he was unable to use his surname for the new company.
The name “Audi” derived from a Latin word meaning “listen”. Horch in German means “hear” or “to listen” which is translated “Audi” in Latin. The idea came from Franz Fikentscher’s son, one of Horch’s business partners from Zwickau. The boy was well-versed in Latin, he had overheard the discussion about the search for a new company name and suggested the name to them.
Since 1964, the Volkswagen Group owned Audi with 50% share holding included the factory in Ingolstadtm the DKW and Audi brands. On January 1, 1969 a new merged company was incorporated as was known as Audi NSU Auto Union AG which was shortened to Audi AG in 1985 as the company’s official name.
Today Audi AG is a world-class renowned automobiles manufacturer. Along with Mercedes Benz and BMW they are known as the “German Big Three”, a group of three automobile manufacturers from Germany that produce luxury vehicles and enjoy big market shares for their products, the best-selling luxury automobile brands in the world.
From their headquarters located in the city of Ingolstadt in Bavaria, Germany, the company carries out its operations in over a 110 countries across the world. Currently Audio produces vehicles in thirteen production facilities in ten countries.
The four rings of the Audi logo each represent one of four car companies that banded together to create Audi’s predecessor company, Auto Union.
The Audi logo represents the merger of four automobile manufacturers based in the German : Audi, DKW, Horch and Wanderer which became Auto Union AG. The design is believed to have been the idea of Klaus von Ortenzen, the director of sales at Wanderer when Berlin was hosted for the 1936 Summer Olympic games.
The four interlinked rings had been used since 1932, before the World War II and make up the Audi badge. These four companies formed the roots of what is today Audi AG along with their slogan Vorsprung durch Technik, meaning “Being Ahead through Technology”
Their total revenue in 2019 was EU 55.680 billion with net income around EU 3.943 billion while the total assets worth about EU 66.878 billion. As of December 2019 the employees are about 90.873 people with Volkswagen Group as the parent company and subsidiaries including Audi Sport GmbH, Ducati, Italdesign Giugiaro and Lamborghini.
related post