Super Street Network

Due to the EU’s Global Data Protection Regulation, our website is currently unavailable to visitors from most European countries. We apologize for this inconvenience and encourage you to visit www.motortrend.com for the latest on new cars, car reviews and news, concept cars and auto show coverage, awards and much more.MOTORTREND.COM
 |   |   |  Volkswagen Italdesign Design - Web Exclusive
Subscribe to the Free
Newsletter

Volkswagen Italdesign Design - Web Exclusive

The Volkswagen Group will be continuing its model initiative over the coming years.

May 25, 2010

VW TAKES MAJORITY SHAREHOLDING IN ITALDESIGN GIUGIARO

The Volkswagen Group and Italdesign Giugiaro SpA (IDG) are to intensify their cooperation following Volkswagen Group's decision to take a 90.1% stake in IDG, including the brand name rights and patents.

Eurp_1005_01_o+volkswagen_italdesign_design+front_view Photo 2/2   |   Volkswagen Italdesign Design - Web Exclusive

The shares are being acquired by Audi's Italian subsidiary, Lamborghini Holding SpA. The remaining shares will stay in the possession of the present owner, the Giugiaro family.

"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 Mk1 Golf, Giorgetto Giugiaro laid a 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 cooperation with IDG for many decades. Giugiaro made a name for himself not only with the Golf, but also with concepts for models such as the first Passat, Scirocco and the Audi 80. Volkswagen and IDG are also collaborating closely on ongoing projects such as the planned Volkswagen Up! 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.

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 business of over €100 million and has a workforce of 800 employees.

Using more flambuoyant language to describe the buyout, Giorgetto Giugiaro said: "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 reevaluating ourselves and our strengths. Entering Volkswagen means to open up a promising perspective for the company."

BROWSE CARS BY MARKET

MORE FEATURES

Emory Motorsports builds the ultimate Outlaw: the 1964 Porsche 356 C4S, an AWD classic Porsche that features the running gear of a 1990 911 Carrera 4.
Rory JurneckaFeb 22, 2019
Two images that purport to show the all-new 992-generation 911 Turbo have shown up on the internet, and they seem to be the real deal
Ed TahaneyFeb 21, 2019
Aston Martin isn't expected to deliver its third hypercar until late 2021, but it's already teasing the mid-engine coupe codenamed Project 003
Kelly PleskotFeb 20, 2019
Carbon Signal Automotive (CS) might not be a familiar name to most, but it's quickly mastered what neither the best in California or Japan can do yet, which is what's helped put its name onto the map.
Jonathan WongFeb 20, 2019
Speedworks Motorsport opts for the new Toyota Corolla hatchback to take racing in the 2019 British Touring Car Championship
Bob HernandezFeb 20, 2019
Sponsored Links

SEARCH ARTICLES BY MAKE/MODEL

Search
CLOSE X
BUYER'S GUIDE
SEE THE ALL NEW
NEWS, REVIEWS & SPECS
TO TOP