Volkswagen to buy Italdesign Giugiaro
As Toyota's reputation begins a slow path to recovery, the likes of Hyundai and Volkswagen continue on their quest to topple the Big T as the biggest manufacturer in the world.
Volkswagen has began streamlining its products and optimising its lineup to cover the entire market. Rumours circulating the web today suggest the German company (which owns Audi, Lamborghini, Skoda, Seat, Bugatti and Porsche) is expected to take a 90 percent stake in Italdesign Giugiaro S.p.A.
Italdesign has been around for over 40 years and currently has 975 workers. The link to Volkswagen goes all the way back to 1974 when the company designed the original Volkswagen Golf.
The 90 percent sale will see the Giugiaro family keep 10 percent with father and son Giorgetto and Fabrizio expected to remain at work.
Volkswagen's plan to become the world's largest manufacturer by 2018 will see the company sell at least 10 million cars annually and require more designers for its array of different brands.
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