Volkswagen to buy Italdesign Giugiaro

Posted on Wednesday, 19 May 2010 , 07:05:38 byAlina

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Volkswagen to buy Italdesign Giugiaro

According to latest reports, Volkswagen will purchase a controlling stake in Italdesign Giugiaro – which is Italy's largest design and engineering firm, based in Moncalieri, Italy, just outside of Turin. The acquisition is seen as the latest step by Volkswagen as part of a larger plan to become the world’s largest automaker by 2018.

Volkswagen plans to become the world's biggest automaker by 2018, with sales of 10 million vehicles a year, and to do so it will launch 60 new or updated models this year alone.

Co-founded in 1968 by Giorgetto Giugiaro, Italdesign-Giugiaro currently employs 975 staff and has 800 computers aided design workstations. Most of the workers and equipment are based in a single office just south of Turin. Both Giugiaro and his son Fabrizio, who acts as chairman, are expected to continue working at the company following the VW takeover.

Some of Italdesign Giugiaro's best known designs are the original Lotus Esprit, the De Lorean, the Maserati Quattroporte, the original Lexus GS, the original VW Scirocco, the current range of MINI models and numerous well-known concepts.