Press release

Braunschweig, 5 June 2019. The Bebelhof and Altmühlstraße primary schools have received bicycles, safety helmets and security locks worth around EUR 15,000 from the "Our Children in Braunschweig" foundation belonging to Volkswagen Financial Services. 50 children altogether will be benefiting from the donation.

The schools are lending out the bicycles free of charge to pupils who do not have a bike of their own. As well as cycling to and from school, the children can also use the bikes privately. By using the bicycles on a daily basis and through special project weeks, pupils can learn how to ride them safely and improve their cycling proficiency over a longer period of time. At the end of the 4th school year, every child can then take a cycling test. The project further fosters a sense of personal responsibility among the children in that they help repair any defects to the bikes themselves together with collaborating cycle repair shops.

"Foundation – Our Children in Braunschweig" (abbreviated to SKIBS in German) was established in 2008 by Volkswagen Financial Services. It was set up to provide sustainable support to socially disadvantaged children in the areas of education, exercise, music and nutrition.

Information for editors:

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA, Canada, and Spain that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 16,267 employees worldwide – including 7,010 alone in Germany. Volkswagen Financial Services report total assets of around EUR 207.6 billion, an operating result of EUR 2.6 billion euros and a portfolio of around 20.3 million current contracts (as at: 31.12.2018).