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Volkswagen AG Unsponsored ADR is an American Depositary Receipt representing a fractional interest in Volkswagen AG’s ordinary shares, providing a U.S.-denominated instrument linked to the German automotive manufacturer. Each receipt represents one-tenth of an ordinary share and reflects the company’s participation in global passenger-car and commercial-vehicle markets. Volkswagen AG develops, manufactures, and markets a broad portfolio of vehicles through brands spanning mass-market, premium, performance, luxury, and commercial-vehicle segments. Its current activities also include electric vehicles, vehicle software, mobility services, financing, leasing, insurance, and fleet solutions. The company serves private consumers, businesses, fleet operators, and public-sector customers across major markets worldwide. As an unsponsored ADR, Volkswagen AG Unsponsored ADR is administered by depositary institutions without a formal sponsored ADR agreement with the company. It functions as a market-access instrument for investors seeking exposure to Volkswagen AG while representing an underlying security governed by German corporate law.