It has finally been officially confirmed that Volkswagen Group and Italdesign Giugiaro S.p.A. (IDG) will be joining hands in a new era of motoring engineering and design.
An official press release has been circulated about the details of the new partnership today. This includes the previously mentioned fact that VW will take a 90.1 percent stake in the company which will include the brand name, rights and patents. Thus the remaining 9.9 percent, a very odd number, will be owned by Giugiaro.
Interestingly, the share is being acquired by Audi’s Italian subsidiary Lamborghini Holding S.p.A. This could purely be a pen on paper business decision or it could be the start to something more wonderful and magical, one that any motoring enthusiast will start dreaming about. The similarities between the two are of course the fact that they are both Italian and have a flair for producing ridiculously beautiful machinery.
IDG an VW have cooperated on many project which include the Golf Mk1, along with concepts such as the Passat, Scirocco and the Audi 80. A comprehensive development framework agreement was concluded in 2008 and VW will continue to work with IDG on projects such as the VW Up! family model.
“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,” said Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of VW.