A US-based tech and AI business has bought most of the Volkswagen Group’s shares in the famous design firm Italdesign. Audi will remain a strategic partner, and the VW Group, which has owned Italdesign since 2010, will retain a stake in the company through Lamborghini. The BMW M1, DMC DeLorean, Lotus Esprit, and the first Volkswagen Golf are all famous cars designed by Italdesign. Volkswagen Group no longer holds a controlling stake in Italdesign. Volkswagen said earlier this week that it would sell its majority stake in Italdesign to UST, a tech and AI company based in California. Volkswagen has owned the famous design company through Audi since 2010. The Volkswagen Group will not completely withdraw from the deal. Even though UST now owns most of the design company, the group will still retain a stake through Lamborghini. Audi will still be in business, but now the company will work for and with Audi as a client and strategic partner. Italdesign has worked on some of the most famous cars in history, but the studio is less famous than others like Pininfarina and Zagato. The brand’s collection includes original Volkswagen models like the Golf, Jetta, and Passat, as well as classic cars like the BMW M1, DMC DeLorean, and Lotus Esprit. In the statement about the sale, UST said it believes Italdesign’s product and car design skills will help it learn more about AI and car engineering. Antonio Casu, the CEO of Italdesign, said that the company they just bought wants to be the first ever to make all of an automobile’s hardware and software in-house.
