Volkswagen Group has formally announced it has taken a 90.1 per cent in Italy's largest design and engineering firm, Italdesign Giugiaro.
Audi subsidiary Lamborghini Holding SpA has acquired the shares and the other 9.9 per cent stake will remain in the Giugiaro family. The deal has been confirmed in a joint press conference in Turin, ending a week of speculation.
VW chairman Martin Winterkorn said he was pleased to acquire such an influential design studio, whose work includes the design of the iconic VW Golf MkI.
“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,” he said.
“Italdesign is the flagship for creative Italian automobile design and has been instrumental in shaping the face of the automobile industry worldwide."
Other Italdesign work for the VW Group has included the original Passat and Scirocco concepts, as well as the Audi 80. The deal between the two firms will mainly centre on the design and development of the VW Up! family of cars.
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Re: VW buys Giugiaro
Golf is too conservative and in the near future it is will stay as it is ( pictures of Mark VII was revealed with little difference from VI ). It seems to me that for the near future the aim is premium small car ( VW Up? ), because they employed Luca De Meo, project manager of Alfa Romeo Mito recently. Italdesign have over 800 employees with over 600 designer posts, so if you can not create them, BUY THEM!
Re: VW buys Giugiaro
does this means that good designs will come in future from Germany, not from Italia?
bella Italia, Italia! porca miséria!
by the way, does this means Fiat group will just stick with Pininfarina, and by this, Chrysler will get some decent appeal???
Re: VW buys Giugiaro
Autocar, what does this mean for Walter da Silva and his team? I don't think i am alone in thinking that da Silva is VW's own Chris Bangle. Recent Audi's the A4, A5 and A8 have all been cookie-cutter copies of a single, somewhat dull shape. Meanwhile, the new Golf Mk 6 and Polo can hardly be described as inspiring. I just hope this acquisition signals new VW designs that are as iconic as the Mk 1 Golf.