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Filed under: Hirings/Firings/Layoffs, Volkswagen, Earnings/Financials, Design/Style

1970 Volkswagen Porsche Tapiro Concept - Click above for high-res image gallery

Remember those rumors that Volkswagen was poised to purchase Italdesign Giugiaro? Well, they're rumors no more, as the two storied firms have just announced that it's a done deal. The German automaker will acquire a 90-percent stake in the design house, and the Giugiaro family, which currently owns the company outright, will retain the remaining 10 percent.

It is currently assumed that Volkswagen will keep the 975 employees at Italdesign, adding them to its own design department. Reports indicate that VW will also retain the services of the elder Giorgetto Giugiaro and his son, Fabrizio, who currently serves as the company design head. For what it's worth, the Italian design house styled some of VW's most successful and iconic models, including the original Golf (or Rabbit, depending on your country of birth) and Scirocco.

Hit the jump for the official joint press release, and be sure to check out some of the best collaborations between the two companies in our high-res image gallery below.


Gallery: Italdesign Volkswagen Concepts


[Source: Italdesign]Continue reading It's Official: VW taking 90% stake in Italdesign
It's Official: VW taking 90% stake in Italdesign originally appeared on Autoblog on Tue, 25 May 2010 13:27:00 EST. Please see our terms for use of feeds.


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