The announcement that VW has taken up 90.1 percent stake in Italdesign will come as a sigh of relief to its workforce. VW has stated that there will be no redundancies among the 800-strong work force. This takeover though may be bad news for other auto companies as apparently, it has been said that they will gradually relinquish relationships with other auto manufacturers such as BMW. Giugiaro has been credit for alot of the design and engineering work on BMW’s second generation MINI.
This would mean that they would eventually be designing exclusively for Volkswagen. “VW Group assured us [we would] keep our freedom and identity – we will keep our creative independence.” according to a spokesman from Italdesign. He also went on to add that Italdesign would also retain its technical engineering departments and would still be based in Turin.
“Giugiaro said it was a decision he took thinking of the opportunities looking to the market, which is becoming more and more global. Because we are a small company, we were fighting in such a big market – it could be a risk.” added the spokesman. The spokesman also confirmed that they will be working progressively with every brand within the VW group.
Though workers and employees of Italdesign will be safe, it would be a shame that the design and engineering concepts of the company will not be available to other fledgling automotive manufacturers. But if this even happens it’s likely to be slow and progressive and should not affect current contracts.