It's Official: VW taking 90% stake in Italdesign

[Blackseal]

Remember those rumors that Volkswagen was poised to purchase Italdesign Giugiaro? Well, they're rumors no more, as the two storied firms have just announced that it's a done deal. The German automaker will acquire a 90-percent stake in the design house, and the Giugiaro family, which currently owns the company outright, will retain the remaining 10 percent.

 

It is currently assumed that Volkswagen will keep the 975 employees at Italdesign, adding them to its own design department. Reports indicate that VW will also retain the services of the elder Giorgetto Giugiaro and his son, Fabrizio, who currently serves as the company design head. For what it's worth, the Italian design house styled some of VW's most successful and iconic models, including the original Golf (or Rabbit, depending on your country of birth) and Scirocco.

 

Wolfsburg/Turin, May 25, 2010