From Yahoo Finance: 2025-05-20 06:33:00

Volkswagen is considering divesting Italdesign, its design and engineering unit, to revamp European operations. Audi, which fully owns Italdesign, is reviewing strategic alignment. Approximately 1,350 employees work at Italdesign, with a turnover of $374m in 2024. Volkswagen has received interest from potential buyers but is not considering offers from competitors.

Founded in 1968 by Giorgetto Giugiaro, Italdesign has created models for brands like Volkswagen, Fiat, Alfa Romeo, and Audi. Volkswagen acquired Italdesign in 2010 and assumed full ownership in 2015. The company recently announced changes to German operations, including job cuts and capacity reductions. Audi closed its Brussels plant after failing to find a buyer.

Volkswagen Group reported a mixed start to the fiscal year, with operating profit in Q1 FY2025 down 37% at €2.9bn, despite a 3% increase in sales revenue to €78bn and a 1% rise in unit sales to 2.1m vehicles. The company is exploring options for Volkswagen-branded car production in Dresden and Osnabrueck.

Read more: Volkswagen considers sale or partnership for Italdesign unit