Page "Škoda Auto" Paragraph 13

The fall of communism with the Velvet Revolution brought great changes to Czechoslovakia, and most industries were subject to privatisation.

In the case of Škoda Automobile the state authorities brought in a strong foreign partner.

Volkswagen was chosen by the Czech government on December 9, 1990 and, as a result on March 28, 1991 a joint-venture partnership agreement with Volkswagen took place, marked by the transfer of a 30 % share to the Volkswagen Group on April 16, 1991.

In the following years, Škoda became the fourth brand of the German group, as the Volkswagen Group raised its equity share first on December 19, 1994 to 60. 3 %, followed on December 11, 1995 to 70 % and finally taking 100 % ownership of the company on May 30, 2000.