x Abu Dhabi, UAEWednesday 26 July 2017

VW has designs on future plans

TURIN // The German car manufacturer Volkswagon has announced it is acquiring a 90.1 per cent stake in the Italian auto designer ItalDesign. The Volkswagen chief executive Martin Winterkorn said the purchase would be made through VW's Lamborghini sports car unit. The Giugiaro family will retain the remaining shares. "ItalDesign enjoys an exceptional image in the automotive world, which is why we signed a framework agreement in 2008 to buy the company," Winterkorn said. "It is just magnificently managed already. That won't change. We believe the current leadership will continue to play their vital role without any change." While ItalDesign-Giugiaro will honour its existing commitments to other car companies and areas of industrial design, Dr Winterkorn warned it might soon be too busy to work outside the VW Group. "Their designers have worked through the entire spectrum from small cars to sports cars to SUVs and to lorries," he said. "I see it as the creative centre of our group and it's also a strengthening link for the designers in our brands."