italdesign giugiaro

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News and Information about italdesign giugiaro

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Vw will announce Tuesday that it will take a 90% stake in Italdesign Giugiaro

Volkswagen AG is set to announce that it will acquire a 90% stake in Italdesign Giugiaro S.p.A, some sources told Automotive News Europe. VW is expected to announce the takeover at the Moncalieri, Turin headquarters of Italdesign, which is known for having styled cars such as the first-generation VW Golf. The remaining 10% stake will be retained by the Giugiaro family.

VW has plans to obtain control of Italdesign so that it can hit sales of 10 million vehicles a year and be known as the world's biggest automaker by 2018.

For VW to attain that goal, more designers and engineers will have to be added to its 10-brand group, including Porsche. For 2010, the VW group will be adding 60 models, including upgrades. Presently, Italdesign is served by 975 employees and 800 computer aided design workstations.

Read the entire article Vw will announce Tuesday that it will take a 90% stake in Italdesign Giugiaro

Official: Vw takes majority shareholding in Italdesign Giugiaro

The Volkswagen Group has entered into an agreement where it will acquire 90.1% of Italdesign Giugiaro S.p.A. The agreement was disclosed through a recent joint press conference in Turin. Under the agreement, Volkswagen will also obtain the rights to the name and patents of Italdesign Giugiaro.

The shares will be purchased by Lamborghini Holding S.p.A, the Italian subsidiary of Audi. Meanwhile all of the remaining shares will be retained by the Giugiaro family.

Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, shared during the press conference that with this agreement, Volkswagen will now have a part to play in a company known not only for its development and design but also for its rich history in the industry.

Read the entire article Official: Vw takes majority shareholding in Italdesign Giugiaro

Italdesign Giugiaro-Vw deal leaves Bmw and others without designers?

Since Volkwagen AG now has a 90% stake in Italdesign Giugiaro S.p.A., its customers might be worried that VW will be able to gain access to their confidential technology. These customers, which include BMW AG, Proton and Hybrid Kinetic Motors Corp., may decide to go somewhere else but Chairman Giorgetto Giugiaro has given assurances of "100% secrecy." 

Giugiaro said that in the future, Italdesign, Italy's largest automotive design and engineering company, will work only for the VW Group but that it will complete all the ongoing projects for other carmakers. 

Last Tuesday, a BMW spokesman said that it will continue with its contract with Italdesign, which has worked on the BMW-owned Mini's Roadster and Coupe models.

Read the entire article Italdesign Giugiaro-Vw deal leaves Bmw and others without designers?
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