Volkswagen Scoops Up Controlling Interest In Italian Design Firm Giugiaro
Volkswagen AG will buy a controlling stake in Italy's largest design and engineering firm, Italdesign Giugiaro S.p.A., two industry sources confirmed to
Automotive News Europe.
One of the sources said that an announcement could come as early as next week. Italdesign and VW representatives declined to comment.
The move is consistent with VW's plan to be the world's largest automaker by 2018 with sales of 10 million vehicles a year. To reach that goal, VW's 10-brand group, including Porsche, will need more designers and engineers. In 2010 alone, VW group plans to add 60 models, including upgrades.
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