Audi to surrender control of Italdesign Giugiaro to US tech firm UST

Volkswagen Group’s Audi concern radical has agreed to merchantability a controlling involvement successful Italian plan and engineering location Italdesign Giugiaro to California-based exertion institution UST.

Lamborghini, Audi’s performance-car unit, volition clasp a “significant” shareholding successful the business, according to a statement.

Audi method improvement committee of absorption subordinate Geoffrey Bouquot said: “UST is the perfect spouse to fortify Italdesign's coagulated instauration portion opening caller marketplace opportunities.

“Together, we purpose to guarantee that Italdesign remains an innovator successful automotive plan and engineering.”

Italdesign volition proceed to number Audi arsenic a semipermanent strategical spouse and large customer.

The transaction is taxable to regulatory clearances. No acquisition terms oregon valuation details person been released.

Volkswagen had been weighing a merchantability of Italdesign since astatine slightest May arsenic portion of a broader restructuring of its European operations.

Under the agreement, UST plans to use its capabilities successful integer engineering, conveyance electronics and AI to Italdesign’s activities.

Italdesign volition lend its acquisition successful conveyance and concern design, engineering, prototyping, limitedrun manufacturing and automotive electronics.

Italdesign Giugiaro CEO Antonio Casu said: “This concern volition bring benefits to each parties involved. It volition let Italdesign to accelerate the enlargement of its work portfolio successful caller markets and execute deeper penetration successful assorted planetary markets.

“Italdesign is aiming to go the archetypal afloat integrator of hardware and bundle worldwide, some successful the automotive assemblage and crossed different precocious exertion concern sectors.”

The companies said the operation is intended to connection a scope of services that spans aboriginal conception improvement and design, hardware and bundle engineering, and accumulation systems, with the purpose of supporting the improvement of digitally intensive conveyance platforms.

UST added that its planetary beingness successful much than 30 countries is expected to enactment Italdesign’s planetary expansion.

UST CEO Krishna Sudheendra said: “Our relation is to enactment Italdesign’s vision, honour its heritage, and bring caller capabilities that assistance the squad proceed to grow.

“We look guardant to moving broadside by broadside with Italdesign and our partners crossed the Audi Group to assistance physique what comes next.”

Italdesign has been portion of the Volkswagen Group since 2010.

"Audi to surrender power of Italdesign Giugiaro to US tech steadfast UST" was primitively created and published by Just Auto, a GlobalData owned brand.