Volkswagen AG engages in the production and sale of vehicles, in particular passenger cars and light commercial vehicles. The company also develops vehicles, and components for the brands of the group. It operates through following segments: Passenger Cars, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars segment covers the development of vehicles and engines, the production and sale of passenger cars and light commercial vehicles, and the corresponding genuine parts business. The Commercial Vehicles segment comprises the development, production and sale of light commercial vehicles, trucks and buses, the corresponding genuine parts business and related services. The Power Engineering segment consists of the development and production of large-bore diesel engines, turbo compressors, industrial turbines and chemical reactor systems, as well as the production of gear units, propulsion components and testing systems. The Financial Services segment engages on dealer and customer financing, leasing, banking and insurance activities, as well as fleet management. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.