Italdesign starts due diligence and valuation process in preparation for sale

Italian design company Italdesign has initiated due diligence and valuation processes in preparation for the sale. Volkswagen plans to hold an employee meeting at its headquarters in Turin, Italy on May 12 to inform the company of the progress of the sale. Information about potential buyers has not been made public, but Italian media said that employees are "full of anxiety" about the future. The sale of Italdesign is undoubtedly another key step in reducing costs and focusing on its core business. Founded in 1968, Italdesign is one of the most influential automotive design agencies in the world and has participated in the creation of many classic models such as the BMW M1, Lamborghini Gallardo, and DeLorean DMC-12.