Latest news with #Italdesign
Yahoo
20-05-2025
- Automotive
- Yahoo
Volkswagen considers sale or partnership for Italdesign unit
Volkswagen is contemplating to divest its design and engineering unit, Italdesign, as part of its strategy to revamp European operations, reported Reuters, citing union representatives. The German automaker is exploring options, including a sale or partnership for the Turin-based unit, according to union representatives from Italian Federation of Metalworkers (Fiom) and FIM Cisl after a meeting with Italdesign management. The move comes as Volkswagen faces increased competition and a challenging European car market. Audi, which fully owns Italdesign, is reviewing its strategic alignment, including its holdings. Audi's spokesperson was quoted by the news agency as saying, the company 'continuously reviews its strategic alignment, including its holdings." Italdesign employs approximately 1,350 people, with 1,100 based in Turin, and reported a turnover of $374m last year. Union representatives revealed that Volkswagen has received preliminary interest from four or five parties but is currently not considering offers from competitors or financial groups. Rocco Cutrì, head of FIM Cisl union in Turin, mentioned that Audi is conducting preliminary due diligence at Italdesign to prepare for the plan. 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. Volkswagen recently announced significant changes to its German operations, including job cuts and capacity reductions. The company ended Volkswagen-branded car production in Dresden and Osnabrueck and is exploring alternative uses for these plants. Audi also closed its Brussels plant after failing to find a buyer. Also, 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. "Volkswagen considers sale or partnership for Italdesign unit" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Top Gear
20-05-2025
- Automotive
- Top Gear
The Bugatti Veyron was first sketched on a Japanese bullet train with a W18 engine
Supercars Bugatti opens the history books to show us four concepts that paved the way Skip 10 photos in the image carousel and continue reading Around 25 years ago, the late Volkswagen Group chairman Ferdinand Piëch said he wanted to build a car that boasted 1,001PS and would be capable of over 400kmh. They'd figure out to get there along the way, but the targets had been set. Interestingly, the all-conquering Veyron was originally planned to have a W18 engine. Bugatti has released these concept car pics outlining the journey from Piëch's train ride to the fastest car in the world, taking in a few very important concepts. Advertisement - Page continues below It was that original ride on a Japanese Shinkansen – the 'bullet train' – back in 1997 where Piëch sketched out an 18-cylinder powerhaus that'd fuel his dream of 1,001PS and 400kmh+. He asked Italdesign's Giorgetto Giugiaro to deliver him a concept capable of bearing such a thing. The front-engined EB 118 arrived at the 1998 Paris Motor Show as a massive two-door homage to the Type 57CS Atlantic whose long bonnet hid a 6.3-litre naturally aspirated W18 engine with 555PS (547bhp). A long way off his target, but the stage had been set. You might like A year later came the EB 218, also designed by GG, this time taking the form of a lavish front-engined four-door that doffed its considerable cap to both the Type 41 Royale and the earlier EB 112 concept from the Artioli era. Longer than the EB 118, it too was powered by that 547bhp W18 lurking under the nose. It took until September 1999 for Bugatti to shuffle the W18 to the middle with the reveal of the EB 18/3 Chiron. This time, GG's son Fabrizio was in charge of the pencil case, adjusting the shape to accommodate the 547bhp W18 in the middle of the car. It's the point where the Veyron really began to take shape, all cab-forward aggression wrapped up in a two-door coupe. Advertisement - Page continues below A month later, it'd morph again into the EB 18/4 concept penned not by the Giugiaros, but in-house by Jozef Kaban, credited with the final Veyron's design. Named after Bugatti's development and test driver Pierre Veyron – who'd won at Le Mans – the 18/4 originally debuted with the same W18. But, 'the immense challenge of reliably extracting over 1,000PS', as well as managing the heat and complexity of the nat-asp W18 meant in 2000, it was downsized by two cylinders to an 8.0-litre W16. It was also turbocharged to within an inch of its life – four, don't forget – which allowed Bugatti to hit its targets. And lo, the Veyron arrived. (And yes, around the same time, Bugatti's stablemates were toying with their own Veyron-esque creations, in the shape of the 1999 Bentley Hunaudières and 2000 Audi Rosemeyer concepts. Both featured a WR16 layout.) Not a bad motor, that Veyron, by all accounts. Pretty quick. Quite luxurious. Bit expensive. Produced 1,001PS (987bhp) and of course, went on to very much exceed 400kmh in the Super Sport. Job done. Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox.
Time of India
19-05-2025
- Automotive
- Time of India
Volkswagen weighs plan to sell or find partner for Italdesign
Volkswagen is considering a plan to divest from its design and engineering unit Italdesign , union representatives told Reuters on Monday, as part of the German automaker 's efforts to overhaul its European operations. The group is assessing a possible sale of Turin-based Italdesign, but it could also consider alternative options, including finding a partner for it, representatives of the Fiom and FIM Cisl unions said after a meeting with Italdesign management earlier on Monday. Volkswagen, which fully owns Italdesign through its premium Audi unit, is under pressure from increasing competition and a lacklustre European car market. A spokesperson for Audi said it "continuously reviews its strategic alignment, including its holdings". Italdesign employs some 1,350 people, including 1,100 in the northern Italian city of Turin, and generated turnover of 332 million euros ($374 million)last year. Volkswagen has received preliminary expressions of interest from four or five counterparts, the union representatives said, adding the German company was not willing, at least for now, to consider offers from competitors or financial groups. "The management confirmed in the meeting that Audi is assessing a possible sale of Italdesign," Gianni Mannori of Fiom union told Reuters, adding Italdesign management has been tasked to find buyers. The whole process could take a few months, Mannori said, adding that Italdesign is a profitable business. Rocco Cutri, the head of FIM Cisl union in Turin, said Audi was running a preliminary due diligence process at Italdesign, to prepare the unit for the plan. Italdesign was founded in 1968 by Giorgetto Giugiaro, one of the world's most influential car designers, who sold it to Volkswagen in 2010. The German group took the full ownership in 2015. Over its history, Italdesign created models for several brands including Volkswagen Golf, Fiat Grande Punto, Alfa Romeo 159 and, more recently, Audi Q2 compact SUV. Volkswagen announced sweeping changes to its German operations in December, including job cuts and sharp capacity reductions. Measures included the end of production of Volkswagen-branded cars in Dresden and Osnabrueck, while the company is exploring alternative uses for the plants. Audi has already closed its plant in Brussels after the search for a buyer ended without success.
Business Recorder
19-05-2025
- Automotive
- Business Recorder
Volkswagen weighs plan to sell or find partner for Italdesign
MILAN: Volkswagen is considering a plan to divest from its design and engineering unit Italdesign, union representatives told Reuters on Monday, as part of the German automaker's efforts to overhaul its European operations. The group is assessing a possible sale of Turin-based Italdesign, but it could also consider alternative options, including finding a partner for it, representatives of the Fiom and FIM Cisl unions said after a meeting with Italdesign management earlier on Monday. Volkswagen, which fully owns Italdesign through its premium Audi unit, is under pressure from increasing competition and a lacklustre European car market. A spokesperson for Audi said it 'continuously reviews its strategic alignment, including its holdings'. Italdesign employs some 1,350 people, including 1,100 in the northern Italian city of Turin, and generated turnover of 332 million euros ($374 million)last year. Volkswagen has received preliminary expressions of interest from four or five counterparts, the union representatives said, adding the German company was not willing, at least for now, to consider offers from competitors or financial groups. Volkswagen says trade tensions, EV costs to weigh on profits 'The management confirmed in the meeting that Audi is assessing a possible sale of Italdesign,' Gianni Mannori of Fiom union told Reuters, adding Italdesign management has been tasked to find buyers. The whole process could take a few months, Mannori said, adding that Italdesign is a profitable business. Rocco Cutrì, the head of FIM Cisl union in Turin, said Audi was running a preliminary due diligence process at Italdesign, to prepare the unit for the plan. Italdesign was founded in 1968 by Giorgetto Giugiaro, one of the world's most influential car designers, who sold it to Volkswagen in 2010. The German group took the full ownership in 2015. Over its history, Italdesign created models for several brands including Volkswagen Golf, Fiat Grande Punto, Alfa Romeo 159 and, more recently, Audi Q2 compact SUV. Volkswagen announced sweeping changes to its German operations in December, including job cuts and sharp capacity reductions. Measures included the end of production of Volkswagen-branded cars in Dresden and Osnabrueck, while the company is exploring alternative uses for the plants. Audi has already closed its plant in Brussels after the search for a buyer ended without success.
TimesLIVE
19-05-2025
- Automotive
- TimesLIVE
VW considering sale or partnership for Italdesign, say unions
Volkswagen is considering a plan to sell its fully-owned design and engineering unit Italdesign or to find a partner for it, union representatives said on Monday, as part of the German carmaker's efforts to overhaul its European operations. Volkswagen, which controls Italdesign through its Audi unit, is under pressure from increasing competition and a lacklustre European car market. Audi was not immediately available for comment. Volkswagen has received preliminary expressions of interest from four or five counterparts, the union representatives said after a meeting with Italdesign management, adding the German company will not consider offers from competitors or financial groups. "The management confirmed in the meeting Audi is assessing a possible sale of Italdesign," Gianni Mannori of Fiom union told Reuters, adding alternative options could be considered. The process could take a few months, Mannori said. Rocco Cutrì, head of FIM Cisl union in Turin, said Audi was running a preliminary due diligence process at Italdesign to prepare the unit for the plan. Headquartered in Turin, Italdesign employs around 1,300 people, including 1,100 in the northern Italian city itself. Volkswagen announced sweeping changes to it German operations in December, including job cuts and sharp capacity reductions. Measures included the end of production of Volkswagen-branded cars in Dresden and Osnabrueck, while the company is exploring alternative uses for the plants. Audi has closed its plant in Brussels after the search for a buyer ended without success, while in March the company announced it would cut thousands more jobs.
