The Volkswagen Group will take a 90.1% stake in Italdesign rsquo;s Italian subsidiary Lamborghini Holding S.p.A. The remaining shares will stay in the possession of the present owner family Giugiaro.
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 or 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.
A new era in the strategic partnership between our companies begins today. Italdesign becomes a permanent member of the global Volkswagen family. 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.—Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen AG
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 center. Today, the company generates sales of more than €100 million and has a workforce of some 800 employees.