Filed under: Volkswagen, Design/Style
The Volkswagen Group has completed its takeover of Italdesign Giugiaro (IDG) with the purchase of a 90.1 percent stake in the design studio. The shares in the company were purchased by Lamborghini – “owned” by VW Group member Audi – and the remaining 9.9 stake is still in the hands of the Giugiaro family. The buyout was originally reported back in May of this year and the studio/small volume manufacturer are now part of the ever-expanding auto conglomerate. The top management of the company, including founder/chairman Giorgetto Giugiaro and his son and vice-president Fabrizio, remain in place.
Volkswagen and IDG have a relationship going back decades, when the elder Giugiaro penned the 1970 Volkswagen Porsche Tapiro Concept as well as the first generation Golf and Scirocco. It’s unclear if IDG will continue working with outside clients or will now dedicate itself to VW Group projects.
Gallery: Italdesign Volkswagen Concepts
Continue reading Volkswagen closes purchase of 90.1% of Italdesign Giugiaro
Volkswagen closes purchase of 90.1% of Italdesign Giugiaro originally appeared on Autoblog on Mon, 09 Aug 2010 14:32:00 EST. Please see our terms for use of feeds.
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