VW is considering selling its design and engineering unit, Italdesign, or finding a partner for the well-known Italian company.
The confirmation came this Monday through union representatives, who told “Reuters” that VW’s decision is part of the efforts the brand is making to restructure its European operations.
VW, which controls Italdesign through Audi, is under pressure due to increasing competition and the decline of the European automotive market. According to the same sources, VW has already received some inquiries from companies interested in taking over Italdesign; however, the German company is not considering offers from competitors or financial groups.
Italdesign, located in Moncalieri, Turin, Italy, employs approximately 1,300 workers and has a long history of designing iconic models such as the VW Golf, Alfa Romeo 159, Fiat Panda, and Grande Punto. However, there are concerns that new owners may relocate the brand away from Turin, jeopardizing the future of a company that is part of Italian automotive history.
