Official: Volkswagen acquires Italdesign Giugiaro

Automotive Design 26 May 2010
Official: Volkswagen acquires Italdesign Giugiaro

Volkswagen and Italdesign Giugiaro have officially announced the acquisition of the Italian design firm by the German carmaker which will take a 90.1 percent stake including the brand name rights and patents.


Participants Of The Press ConferenceDuring an official press announcement in Turin, Volkswagen Group and Italdesign Giugiaro have announced the acquisition of the design studio by AUDI’s Italian subsidiary Lamborghini Holding S.p.A.

The VW Group takes a 90.1 percent stake including the brand name rights and patents.

The remaining shares will stay in the possession of the present owner family Giugiaro. Below we report the official press release.

From the official Press Release:

The Volkswagen Group and Italdesign Giugiaro S.p.A. (IDG), Turin, are to intensify their successful cooperation, putting it on a new footing. This was announced by both companies at a joint press conference in Turin on Tuesday.

Martin Winterkorn And Giorgetto GiugiaroGiorgetto Giugiaro Martin WinterkornThe Volkswagen Group will take a 90.1 percent stake in IDG, including the brand name rights and patents. The shares are being acquired by AUDI’s Italian subsidiary Lamborghini Holding S.p.A. The remaining shares will stay in the possession of the present owner family Giugiaro.

Martin Winterkorn And Giorgetto Giugiaro“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 I, Giorgetto Giugiaro laid a new foundation for Volkswagen design in the 1970s,” Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, commented in Turin.

The Volkswagen Group has enjoyed successful cooperation with IDG for many decades. Giugiaro made a name for himself not only with the Golf I, but also with concepts for important models such as the first Volkswagen Passat, Scirocco or the Audi 80.

Giorgetto GiugiaroA comprehensive development framework agreement was concluded in 2008. Volkswagen and IDG are also collaborating closely on ongoing projects such as the planned Volkswagen Up! model family. Implementation of the agreement is also subject to the standard approval by the relevant authorities.

“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.

IDG was founded in Turin by Giorgetto Giugiaro and Aldo Mantovani in 1968. Both founders are considered pioneers of modern Italian automobile design.

Italdesign has also acquired a reputation worldwide as a highly-competent development center. Today, the company generates sales of over €100 million and has a workforce of some 800 employees.

VW Golf GTI VW Scirocco Lamborghini Gallardo Designed By Giugiaro“Every drop becomes the sea when it flows oceanward. In the last few days I ran into this sentence while I was reading Sophie`s World by the Norwegian novelist Jostein Gaardner. We are the drop. Becoming part of the Volkswagen Group means revaluating ourselves and our strength. Entering Volkswagen means to open up a promising perspective for the company,” Giorgetto Giugiaro said.

(Source: Volkswagen Group, Italdesign Giugiaro)

Image Gallery

Related Stories

Skoda Enyaq: Design Sketches and Interviews

Skoda Enyaq: Design Sketches and Interviews

The official design sketch renders and design interviews on the new Škoda Enyaq, the electric SUV that will be revealed on September 1st during a virtual event.
Volkswagen America design contest for Atlas Cross Sport R livery

Volkswagen America design contest for Atlas Cross Sport R livery

Volkswagen of America has launched an online graphic design contest to create the competition livery for its Atlas Cross Sport R race car.
Porsche Unseen: 15 design studies revealed

Porsche Unseen: 15 design studies revealed

Porsche has announced a new design book and editorial initiative that will showcase 15 previously unseen design studies created between 2005 and 2019.

Comments

Leave a Comment

Newsletter

Get all the updates with our weekly newsletter!

Find a Car


Scroll To Top
Scroll To Bottom