Volkswagen Group Buys 90.1% of Italdesign Giugiaro

Ending days of rumors, the Volkswagen Group announced Tuesday it was buying a 90.1 per cent stake in Italian design firm and Italdesign Giugiaro S.p.A. as part of its global expansion plan, without, however, giving out any information on the financial aspects of the deal.

The German automaker said that the shares are being acquired by AUDI's Italian subsidiary Lamborghini Holding S.p.A., while the Giuigiaro family will keep a 9.9 per cent stake in the Italian company that generates sales of over €100 million (US$122 million) and has a workforce of some 800 employees.

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Volkswagen Group to Buy Italdesign Giugiaro?

Volkswagen's master plan is all about numbers. Being the biggest, baddest automaker out there. That's why it isn't any surprise to hear that Volkswagen might be bringing Italdesign Giugiaro under its wing (nothing is official yet).

An acquisition would be another major part of VW's world takeover scheme, assisting with the goal selling 10 million vehicles in 2018. Its ten brands intend to release sixty new or updated models this year, so more designers and engineers are needed.

Now is far from the first time that VW and Giugiaro have worked together. The Italian design house has helped create a variety of cars for those aforementioned ten brands.

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