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VW takes over design house

Vehicle design and development company Italdesign Giugiaro has been bought by Volkswagen Group.

VW has taken a 90.1% stake in the Italian company. The remaining stake remains with the Giugiaro family.

Professor Martin Winterkorn, VW Group chairman, said: "With this shareholding in Italdesign, we are participating in one of the most renowned design and development companies with one of the richest traditions in the automobile industry. Italdesign is the flagship for creative Italian automobile design and has been instrumental in shaping the face of the automobile industry worldwide.

"As the creator of the Golf mk1, Giorgetto Giugiaro laid a new foundation for Volkswagen design in the 1970s."

 

Giugiaro made a name for himself not only with the Golf mk1, but also with concepts for important models such as the first Volkswagen Passat, Scirocco or the Audi 80. 

Volkswagen and IDG are also collaborating closely on ongoing projects such as the planned Volkswagen Up! model family.

“A new era in the strategic partnership between our companies begins today. Italdesign becomes a permanent member of the global Volkswagen family,” Winterkorn said.

“The Volkswagen Group will be continuing its model initiative over the coming years and will benefit from the capacity and competence of Italdesign.

"The company will therefore be making an important contribution to our 2018 global growth strategy,” Winterkorn continued.

 

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