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Skoda

Updated 3 years ago | By: Maxabout Team

Skoda Auto, commonly known as Skoda is an automobile manufacturing company based in Czech Republic. Skoda became a wholly owned subsidiary of Volkswagen Group in the year 2000. The company started off as an arms manufacturer in 1859 under the name Skoda Works. Later it was turned into Skoda Auto, founded by duo Vaclan Laurin and Vaclav Klement and was named Lauren-Klement. In the year 1999 due to Velvet Revolution, most industries were subject to privatization in Czech Republic. Volkswagen was chosen by Czech Government as a foreign partner. On 9th march 1991, as a result, joint-venture agreement was formed between the two companies, Volkswagen thereby taking 30% of company’s share. Volkswagen raised Skoda’s share by 60% in 1994 and 70% in 1995 finally taking 100% ownership of the company in 2000. The 1984 the company was manufacturing motorcycles. In 1990 when the export began, the company was exporting 150 machines to London and soon the company was credited as the makers of f