Volkswagen is an automotive manufacturing company headquartered in Wolfsburg, Germany, and is also a core enterprise of the Volkswagen Group, one of the world's four largest automobile manufacturers. Volks means "national" in German, Wagon means "car" in German, and the full name means "national car", so it is often abbreviated as "VW". In Taiwan, it is translated as Volkswagen, while in Hong Kong, Macau, and mainland China, it is translated as Volkswagen or Volkswagen, meaning "people's cars". The entire automotive group produced and sold over 9.07 million vehicles in 2012, while the Volkswagen brand produced over 5.74 million vehicles. On August 25, 2018, Volkswagen officially announced the independent launch of the electric "We Share" car sharing service. In November, Volkswagen announced its entry into the electric vehicle industry.