Volkswagenwerk in German means a car used by the public. The VW in the logo is the first letter of the full name. The logo is composed of three "V"s made with the middle and index fingers, which means that Volkswagen and its products must win-win-win. Volkswagen is a multinational automobile group with production plants in many countries around the world. It ranks among the top ten automobile companies in the world. The company headquarters was moved to Berlin and is still located in Wolfsburg. There are currently 265,000 employees, and the entire automobile group's production and sales capacity is about 3 million vehicles. On July 24, 2008, the European Union officially decided to approve the acquisition of the German Volkswagen Group by Porsche Automobile Holding AG. If the acquisition is successful, the combined company will become the number one automotive company in Europe and the top three in the world.