Porsche is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans. Porsche is headquartered in Stuttgart, and is owned by Volkswagen, which is itself majority-owned by Porsche Automobil Holding SE. Ferdinand Porsche founded the company in 1931, with main offices at Kronenstrabe 24 in the centre of Stuttgart. Initially, the company offered motor vehicle development work and consulting, but did not build any cars under its own name. One of the first assignments the new company received was from the German government to design a car for the people, that is a Volkswagen. This resulted in the Volkswagen Beetle, one of the most successful car designs of all time. The Porsche 64 was developed in 1939 using many components from the Beetle. Porsche's company logo was based on the coat of arms of the Free People's State of Wurttemberg of former Weimar Germany, which had Stuttgart as its capital. The arms of Stuttgart was placed in the middle, since the cars were made in Stuttgart. The heraldic symbols were combined with the texts Porsche and Stuttgart, which shows that it is not a coat of arms since heraldic achievements never spell out the name of the armiger nor the armigers home town in the shield.