According to recent reports, competing design firms are ecstatic about Volkswagen's purchase of Italdesign Giugiaro.
According to a recent report, competing design firms are ecstatic about Volkswagen's purchase of Italdesign Giugiaro.
While this seems like an odd reaction, companies such as Bertone, Fioravanti, I.DE.A. and Pininfarina stand to gain clients from automakers who are wary of Italdesign's new overlords. Considering the company raked in nearly 100 million euros ($123 million) from non-Volkswagen accounts annually, their joy is understandable.
Even if other automakers approve of Italdesign's new owner, Volkswagen could force Italdesign to focus on their cars instead of competitor's models. This could cause Italdesign to drop labor-intensive accounts such as Hybrid Kinetic Motors Corp (which wants IDG to design and engineer 8 models for the U.S), Proton, Brilliance China Automotive and Chery.
As we reported yesterday, Lamborghini Holding S.p.A will acquire a 90.1% stake in Italdesign Giugiaro. Volkswagen sees this as a critical move to expand their design and engineering pool in an effort to sell 10 million vehicles annually by 2018.