The Volkswagen Group may sell Italdesign or look for a new partner, as it looks to overhaul its German operations. The carmaking conglomerate is looking for ways to shore up its finances as it faces increased competition from other brands, particularly those from China. Selling Italdesign could help it generate some invaluable funds that it could use in developing new and enticing models.
Italdesign was founded as Studi Italiania Realizzazione Prototipi in 1968 by famed designer Giorgetto Giugiaro and Aldo Mantovani. In 2010, Audi acquired 90.1% of the shares of the design house for an undisclosed amount. In 2015, Giugiaro resigned from the company, selling his remaining shares to Audi.
Read Article