Overview

• Volkswagen is conducting due diligence on the potential sale of Italdesign, a design and engineering firm it fully acquired in 2015.
• Unions have expressed concern over the decision, citing the need to protect jobs and Italdesign’s legacy of automotive excellence.
• Italdesign, founded by Giorgetto Giugiaro in 1968, has contributed to iconic vehicles like the DeLorean DMC-12, Volkswagen Golf, and Fiat Panda.
• Volkswagen faces significant financial strain due to electrification investments, market stagnation, and large-scale job cuts across its brands.
• Union assemblies are scheduled for May 12, with a formal meeting between Italdesign management and unions planned for May 19 to discuss the company's future.