In 2010, Volkswagen Group acquired a 90.1 percent stake in Italian auto design firm Italidesign. The purchase was technically done through Lamborghini, also a VW Group company, and is now under the purview of Audi. But that could soon change.
The Germans are allegedly looking to sell Italidesign. Union representatives for Italidesign were told the company was already being reviewed as part of due diligence in preparation for a sale, according to Automotive News Europe. A meeting with company workers is apparently scheduled for May 12 at Italidesign’s headquarters in Italy.
The Italian news outlet Corriere della Sera first broke the news. The report suggests that Audi isn’t merely taking action for a potential sale, but already has something cooking. There’s no mention of possible buyers at this point, but Corriere della Sera claims people in Turin are worried about what comes next. Following the May 12 meeting is another one scheduled for May 19 that will reportedly involve a delegate from the Turin Industrial Union.
Once the global hotspot for automotive design, Turin has taken some hits in recent years. Bertone folded in 2014 before returning in 2022 with new owners, but much hasn’t been heard on the company’s proposed supercar in nearly a year. Pininfarina was sold to India-based Mahindra. Italidesign’s previous sale to VW Group kept the firm rooted in Europe, at least. With things booming in China, it wouldn’t be a surprise to see the storied brand shift to Chinese ownership.
The potential sale is another sign that things within the extended Volkswagen family aren’t ideal. Despite an increase in EV sales, the conglomerate is in a financial bind that nearly led to plant closures in Germany. As it stands, the company will reduce its workforce by over 35,000 people in the next five years. Sadly, it looks like Italidesign could be part of those cuts.
Italdesign didn’t immediately respond to our request for comment. We will update this article if additional news becomes available.
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