Audi to surrender control of Italdesign Giugiaro to US tech firm UST

Core Viewpoint - Volkswagen Group's Audi business group has agreed to sell a controlling interest in Italdesign Giugiaro to UST, while Lamborghini will retain a significant shareholding in Italdesign [1][2] Group 1: Transaction Details - The transaction is subject to regulatory clearances, and no purchase price or valuation details have been disclosed [2] - Volkswagen has been considering the sale of Italdesign as part of a broader restructuring of its European operations since at least May [2] Group 2: Strategic Intent - UST plans to leverage its capabilities in digital engineering, vehicle electronics, and AI to enhance Italdesign's activities [3] - Italdesign aims to become the first full integrator of hardware and software globally, focusing on both the automotive sector and other high-tech industries [4] Group 3: Partnership Benefits - The partnership is expected to accelerate Italdesign's service portfolio expansion and deepen its market penetration internationally [4] - UST's global presence in over 30 countries is anticipated to support Italdesign's international growth [5]