Škoda Auto is a Czech automobile manufacturer, a subsidiary of the Volkswagen Group. Its headquarters are located in Mladá Boleslav, Czech Republic. The company was founded in 1895 by Václav Klement and Václav Laurin, as Laurin & Klement and originally produced bicycles, motorcycles and trucks. In 1925 it was acquired by Škoda Works, one of the largest European industrial conglomerates. In 2000 it became a subsidiary of Volkswagen Group and take the role of entry-level marque, but later it shifted higher in brands range of German automotive corporation and now Skoda cars are competing with some Volkswagen models.