Volkswagen To Acquire Italdesign Studio: Report

FAMOUS FOR designing cars for the likes of Alfa Romeo and Maserati, Italian outfit Italdesign Giugiaro is reportedly days away from being acquired by another of its clients, Volkswagen.

Reports out of Europe today suggest that Volkswagen will this week announce the purchase of a 90 percent stake in the Turin-based company, responsible for the styling of the first-generation VW Golf (only recently cancelled in South Africa).

According to US industry paper Automotive News, sources close to the deal have confirmed that Volkswagen will takeover Italdesign as it works to become the world's largest carmaker by 2018.

With 975 staff and 800 design stations in its studios, the acquistion of Italdesign is expected to help Volkswagen speed up development of new models across its 10-brand range, including Porsche and Audi. 

Italdesign has most recently been involved in the design of Alfa Romeo's successor to the ageing 159 sedan.

Italdesign founder Giorgetto Giugiaro, 71, is expected to remain on staff after the takeover, along with his son Fabrizio, 45.

An announcement will reportedly be made on Tuesday morning at Italdesign's Turin offices (around 5pm Tuesday, AEST).