Volkswagen To Buy Famed Italdesign Giugiaro?
Automotive News is reporting Volkswagen will be taking a controlling stake in the design and engineering firm Italdesign-Giugiaro S.p.A. with an official announcement possibly as early as next week. Both companies have declined to comment.
Founded in 1968 and owned entirely by designer Giorgetto Giugiaro, the company currently employs 975 workers. Giugiaro serves as chairman while his son is head of design and modeling. As a private company, Italdesigns financials have remained behind closed doors with the exception of 2008s release that theyd broke even after an earnings increase of 6.2% at $166 million.
Vehicles designed by the Italian firm include VWs first generation Golf, Passat and Scirocco models, the DMC-12 Delorean, Alfas 159 and Brera coupe, Fiats Grande Punto, Idea and Sedici models as well as a number of Maseratis including the 3200 GT, Bora, Merak and the 1970s Quattroporte.
Known also for their concept cars, Italdesign is responsible for the 2007 Giugiaro Mustang, 2008 Quaranta that showed up a couple weeks ago in Rome as a taxi, VWs W12 sports car (scrapped when Audi purchased Lamborghini) as well as the Bugatti EB118 and EB218 concepts.
Recent engineering works include BMWs second-generation Minis and its Clubman variant.
With their artistry affecting so many designs from a number of automakers throughout the last four decades, our only hesitation to this deal is having this talent locked up for only the VW group to access. Given the recent hardships of fellow design firms Bertone and Pininfarina, however, this may be just what Italdesign-Giugiaro S.p.A. needs to stay afloat.