Italdesign, the renowned automotive design and engineering company founded in 1968 by Giorgetto Giugiaro and Aldo Mantovani, is reportedly up for sale. Audi, which acquired a majority stake in the company in 2010, is looking for potential buyers as it navigates a challenging transition towards electric vehicles and faces significant pressures from the automotive market.
The news was first reported by Corriere Torino, indicating that unions have already been informed of possible moves by the Volkswagen group, of which Audi is a part. A due diligence process has reportedly been initiated to evaluate the potential sale, aimed at raising economic resources during a time of transformation in the auto industry.
Italdesign, located in Moncalieri, Turin, employs approximately 1,300 people and has a long history of designing iconic models such as the Volkswagen Golf, Alfa Romeo 159, Fiat Panda, and Grande Punto. However, there are concerns that any new owners might relocate the brand away from its historical roots in Turin, jeopardizing the future of a vital piece of the local automotive industry.
Rocco Cutrì, the general secretary of Fim Cisl Torino, emphasized the importance of understanding the reasons behind the potential sale and the future prospects for Italdesign. “Italdesign has great potential; it has always had it, and it is crucial to preserve its expertise,” he stated. The union is mobilizing on a European level to ensure that the interests of the workforce are protected.
The impending sale has raised alarms among union representatives and employees, especially as Audi has announced approximately 7,500 job cuts, with the wider Volkswagen group expecting around 35,000 layoffs. This has sparked fears that Italdesign, despite its profitability and solid performance—reporting revenues of 145 million euros in 2023 and a profit close to 20 million euros—could become a casualty of corporate restructuring.
Italdesign’s financial health is noteworthy; under the leadership of CEO Antonio Casu, the company has been awarded Christmas bonuses to its employees and aims to increase its turnover to 300 million euros in the medium term. This financial stability makes it an attractive target for potential buyers, although the uncertainty surrounding its future remains a pressing concern.
Potential buyers are reportedly exploring the situation, but they are not speculative funds or other car manufacturers. Instead, large multinational engineering firms, some based outside Europe, are said to be interested. Nevertheless, the unions have made it clear that they oppose any plans for dismantling or downsizing the company, insisting on clarity and protection for the workers.
Gianni Mannori from Fiom Cgil expressed deep concern over Italdesign’s future, stating, “Italdesign is an excellence that risks being dismantled.” He highlighted the historical significance of Italdesign as a symbol of Italian automotive design, noting its contributions to the industry over the decades.
The company has not only been instrumental in creating road cars but has also played a role in rallying, collaborating with brands that have used its designs as a foundation for competition vehicles. This includes iconic models like the Lancia Delta and the Volkswagen Golf Mk1, which have left a lasting impact on motorsport.
As the automotive sector grapples with the transition to electric vehicles and faces economic pressures, Italdesign’s potential sale marks a significant moment for the Italian automotive landscape. The company has been a beacon of innovation and design excellence, and its departure from the Volkswagen portfolio could signal a troubling trend for the future of automotive design in Turin.
Upcoming meetings are crucial; a joint assembly for employees is scheduled for May 12, 2025, organized by Fiom and Fim, with an official meeting between the company and union representatives set for May 19, 2025. These discussions will be vital in addressing the concerns of the workforce and ensuring that Italdesign’s legacy and expertise are preserved in whatever future lies ahead.
In summary, Italdesign stands at a crossroads. With its rich history and significant contributions to the automotive industry, the potential sale raises critical questions about the future of this iconic brand and its place in the heart of Italy’s automotive heritage. As stakeholders await further developments, the fate of Italdesign will undoubtedly be closely monitored by employees, unions, and automotive enthusiasts alike.
