Italdesign Giugiaro has produced a bunch of stunning designs including their famous take on the Mustang with the Ford Mustang Giugiaro Concept; the Italdesign Giugiaro Quaranta Concept; and most recently, their take on the subcompact market with the Italdesign Emas Concept. It seems their work has been so impressive that it has caught the eyes of executives over at Volkswagen AG.
According to two industry sources that talked to Automotive News Europe, Volkswagen AG will buy a controlling stake in Italdesign Giugiaro SpA, Italy’s largest design and engineering firm. Sources said that the announcement could come as early as next week.
Italdesign is privately owned by Giorgetto Giugiaro, 71, who serves as chairman, and his son Fabrizio, 45, who leads the design and model division. The company has about 975 employees.
The move is in line with Volkswagen’s plan to become the world’s largest automaker by 2018 with sales of more than 10 million vehicles annually. To reach that goal, along with its merger of Porsche, Volkswagen will need more designers and engineers.
Volkswagen has plans to add 60 models in 2010 alone, including upgrades to current models.
– By: Omar Rana
Source: Automotive News (Subscription Required)