- Audi is selling most of its Italdesign stake after 15 years of ownership.
- It’s being bought by California-based UST, which loves AI and buzzwords.
- Lamborghini keeps a significant stake as sale terms stay undisclosed.
Earlier this year, reports emerged that Audi was looking to offload Italdesign as part of a broader cost-cutting initiative following underwhelming financial results. Those reports turned out to be correct, as Audi has sold a majority stake in the storied design firm to a company called UST.
If the name doesn’t ring a bell, you’re not alone. The company’s history appears to include more buzzwords than actual facts. Still, UST is based in California and claims to employ over 30,000 people across more than 30 countries.
More: Italdesign’s Quintessenza Is A Bonkers Pickup Coupe With More Horsepower Than An F1 Grid
The firm says it has spent more than two decades working “side by side with the world’s best companies and leading OEMs in the automotive industry to make a powerful impact through transformation.”
That’s pretty generic and so is this gem, which reads: “Powered by technology, driven by AI, inspired by people, and led by this purpose, UST partners with clients from design to operation.”
Setting the marketing copy aside for a moment, Audi isn’t walking away entirely. Lamborghini, which operates under the same group umbrella, will retain what’s being called a “significant stake.”
Neither company offered specific figures or disclosed a sale price, but the German automaker said it will “remain a strategic partner of Italdesign in the long term as well as an important client of the company.”
As for what the future brings, that’s unclear. According to a joint press release, the takeover “creates a strong partnership that combines UST’s expertise in automotive engineering, artificial intelligence, software-defined vehicle development, and digital ecosystem design with Italdesign’s deep knowledge in vehicle and product design, engineering, prototyping, small series production, and automotive electronics.”
It went on to suggest the two companies will now be able to offer a “comprehensive and integrated range of services,” which will enable them to take customers from early concept to production. That includes helping clients develop “fully modern, digitally enabled vehicles.”
The deal is subject to regulatory approvals, but Italdesign CEO Antonio Casu framed the move optimistically. He said the partnership “will bring benefits to all parties involved” and “will allow Italdesign to accelerate the expansion of its service portfolio in new markets and achieve deeper penetration in various international markets.”
Audi’s technical development boss, Geoffrey Bouquot, said “For many years, Italdesign has been a valued partner in our development network, contributing expertise from design to prototype and series development. We are confident our collaboration will continue to drive success and deliver strong results under the new ownership structure.”
