Volkswagen purchases Italdesign Giugiaro
Volkswagen has set some lofty goals for itself, one for which they will assemble an entire army. The latest out of the German woodwork is that Volkswagen is in the process of buying Italian design and engineering house Italdesign Giugiaro S.p.A. in an effort to bolster its bid of selling 10 million vehicles by 2018 and cement the company’s efforts of global auto domination.
Employing a little under 1,000 employees, Italdesign Giugiaro will give Volkswagen additional designers and engineers to work on VW Group’s 10 brands, including that of Porsche, which the conglomerate just recently acquired. Details of the pending acquisition are still being withheld as per company policy, but as soon as the deal is finalized, we can expect an announcement to be made soon after.
Volkswagen has made no mistake of its desire to supplant Toyota and become the largest automaker in the world by 2018, a challenge that Volkswagen - with the acquisition of Italdesign Giugiaro - is apparently ready to take on with full head of steam.