Italdesign to unveil possible VW takeover deal tomorrow image

Italdesign Giugiaro is due to make an announcement “in the next few days” with widespread speculation it is to be the subject of a takeover by Volkswagen.

It is thought VW has had its eyes on the Turin-based company with a view to expanding its design expertise as it looks to drive sales of up to 10m vehicles per year.

“We are going to say something in the next few days – we could say something tomorrow, ” an Italdesign spokesman told just-auto from Turin.

“We have to do this thing together with Volkswagen.”

Volkswagen was not immediately available for comment – today is a public holiday in Germany.