Association of Southeast Asian Nations (ASEAN)
An international organization of Southeast Asian nations with political, economic and cultural aims that has been in existence since August 8, 1967.
Big data is a term used to describe new ways of analyzing and evaluating data volumes that are too vast and too complex to be processed using manual or conventional methods.
Carbon Disclosure Project (CDP)
Once a year, the CDP, a non-profit organization, collects corporate data on e.g. greenhouse gas emissions and climate change risks on behalf of investors.
Completely Knocked Down (CKD)
A method of manufacturing vehicles in which kits are manufactured for export to individual countries rather than complete vehicles.
Adherence to statutory provisions, internal company policies and ethical principles.
Compressed Natural Gas (CNG)
Burning this compressed natural gas releases approximately 25% less CO2 than petrol because of its low carbon and high energy content.
Describes the ability of vehicles to constantly communicate with e.g. other vehicles, traffic lights, or the workshop, and connect to consum-er electronics.
Continuous Improvement Process (CIP)
CIP aims to ensure the continuous optimization of product, process and service quality focused on corporate objectives. Inefficiencies are eliminated gradually and permanently and work methods are optimized through the systematic incorporation of employees’ abilities and practical knowledge.
International term for responsible corporate management and supervision driven by long-term value added.
Direct Shift Gearbox (DSG)
Gearbox that consists of two gearboxes with a dual clutch and so combines the agility, driving pleasure and low consumption levels of a manual gearbox with the comfort of an automatic.
Presentation of hedges in the balance sheet with the aim of compensating offsetting gains and losses from hedged items and hedging instruments within the same period economically and in the financial statements.
Hedging transactions used in risk management, for example to hedge interest rate and exchange rate risks.
Drive combining two different types of engine and energy storage system (usually an internal combustion engine and an electric motor).
Hybrid notes issued by Volkswagen are classified in their entirety as equity. The issuer has call options at defined dates during their perpetual maturities. They pay a fixed coupon until the first possible call date, followed by a variable rate depending on their terms and conditions.
Describes the fourth industrial revolution and the systematic development of real-time and intelligent networks between people, objects and systems, exploiting all of the opportunities of information technology along the entire value added chain. Intelligent machines, inventory systems and operating equipment that independently exchange information, trigger actions and control each other will be integrated into production and logistics at a technical level. This offers tremendous versatility, efficient resource utilization, ergonomics and the integration of customers and business partners in operational processes throughout the entire value chain.
Liquefied Natural Gas (LNG)
LNG is needed so that natural gas engines can be used in long-distance trucks and buses, since this is the only way of achieving the required energy density.
As an extension of the modular strategy, this platform can be deployed in vehicles whose architecture permits a transverse arrangement of the engine components. The modular perspec-tive enables high synergies to be achieved between the vehicles in the Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, Audi, SEAT and ŠKODA brands.
North American Free Trade Agreement (NAFTA)
Agreement signed by Canada, Mexico and the United States establishing a free trade zone in North America in 1994.
Penetration rate for financial services
The ratio of the leasing and financing business to total deliveries.
Next-generation hybrid vehicles. Plug-in hybrid electric vehicles (PHEVs) have a larger battery with a correspondingly higher capacity that can be charged via the combustion engine, the brake system, or an electrical outlet. This increases the range of the vehicle.
Systematic evaluation of companies in terms of their credit quality. Ratings are expressed by means of rating classes, which are defined differently by the individual rating agencies.
Recovery of kinetic energy by using an electric motor as a generator, for example in the drivetrain.
Concept of flexible manufacturing enabling the production of different models in variable daily volumes within a single plant, as well as offering the facility to vary daily production volumes of one model between two or more plants.
For example, electronics, logistics, marketing, or finance. A new teaching and learning culture is gradually being established by promoting training in the vocational groups. The specialists are actively involved in the teaching process by passing on their skills and knowledge to their colleagues.