After a successful collaboration that stretches back several decades, Volkswagen has now taken a 90.1 per cent stake in Italdesign Giugiaro S.p.A.
The two companies have been working together since Giugiaro made a name for himself with the Golf I. He has also linked with Volkswagen on the Passat, Scirocco and the Audi 80. They continue to work together on projects such as the Volkswagen Up! model family.
According to Professor Dr Martin Winterkorn, the chairman of the board of management of Volkswagen AG, the strategic partnership marks a new era for the companies with Italdesign becoming a permanent member of the Volkswagen family. He expects the company to make an important contribution to its 2018 global growth strategy.
Originally founded in Turin in 1968 by Giorgetto Giugiaro and Aldo Mantovani, it has acquired a reputation worldwide as a highly competent development centre and generates sales of more than €100million.
The German manufacturer’s acquisition includes brand name rights and patents with shares acquired by Audi’s Italian subsidiary Lamborghini Holding S.p.A – the remaining shares will remain with the present owner family Giugiaro. The acquisition is subject to the standard approval by the relevant authorities.
