Volkswagen Group takes majority shareholding in Italdesign Giugiaro
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The original VW Golf GTI ..... designed by Giugiaro
Lamborghini Gallardo ..... designed by Giugiaro
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Volkswagen
25th May, 2010
- Volkswagen takes 90.1 percent stake in internationally renowned
design and development services company
- Expansion of capacity and competence for global model initiative
- Volkswagen Board of Management Chairman Winterkorn: “New era in strategic partnership between these two
companies”
The Volkswagen Group (Germany) and Italdesign Giugiaro S.p.A. (IDG), Turin (Italy), 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. The 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.
"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 and the Audi 80. A 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.
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"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 centre. Today, the company generates sales of over €100 million and has a workforce
of some 800 employees.
"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.
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