ITALY: Outsourcing work to continue: Italdesign
Today's (10 August) formal acquisition by Volkswagen Group of the majority stake in Italdesign Giugiaro (IDG) will not lead to a severing of the Italian company's outsourcing business.
The automaker now holds a 90.1% stake in IDG, including the brand name rights and patents but Italdesign says it will continue its relationships with companies such as BMW for example.
"We are working with BMW and are finishing the Mini - we will go on with that without any problems," an Italdesign spokesman in Italy told just-auto.
"We are used to [having] different customers - we are running fast with the new projects with Mini. We are designing the coupé and convertible - this is no secret."
Italdesign added it was ready "to play our role" in the design outsourcing field and that it was not tied exclusively to Volkswagen although the Group would have "first call."
The Turin-based company added it would now have long-term planning with the VW Group rather than on a project-by-project basis.
"This is something really new for our company - to have a vision for the next five years," said the Italdesign spokesman.
Italdesign declined to disclose the price Volkswagen paid for its stake, but confirmed the operation would retain its 800-strong staff and remain in Turin.