Benz & Co. achieved a breakthrough in sales terms with the "Velo". A light, low-priced vehicle, about 1200 models were built during the period 1894 to 1901. It is considered by many to be the first production vehicle.
By the end of the 19th century, Benz & Co. had grown into the world’s leading automotive manufacturer.
It was converted into a public limited company in 1899 and continued on as Benz & Cie. Alongside Karl Benz on the Board of Management, Julius Ganß became Commercial Director. Between 1890 and 1899, the vehicle construction workforce expanded from 50 to 430. 572 vehicles were built at Benz in 1899.