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Volkswagen to buy Italdesign-Giugiaro

Italdesign-Giugiaro S.p.A could soon become another group under the Volkswagen AG umbrella, according to Automotive News Europe. The industry publication cites two sources that claim the German company is set to buy a controlling stake in Italy's largest design and engineering firm, a deal which could be clinched as early as next week. Founded by Giorgetto Giugiaro and Aldo Mantovani in 1968, Italdesign-Giugiaro currently has 975 employees and 800 CAD workstations.

Aston Martin Racing to sell V8 Vantage and DBR 1-2

Aston Martin Racing is offering for sale two pedigreed race cars for display -- both sporting the legendary Gulf Oil livery -- for the low, low price of $379,300 each, converted today from British pounds. The V8 Vantage GTE chassis No. X2 competed at the 24 Hours of Le Mans in 2012.

Mercedes-Benz inaugurates Advanced Design Studio in Beijing, China

Mercedes-Benz inaugurated its global Advanced Design Center in Beijing, China, yesterday, Thursday July 21. The Beijing design center, Daimler's fifth advanced design studio worldwide, further reinforces the growing importance of the Chinese auto market and Beijing in particular; the city is increasingly influencing changing needs and trends. The new 1,000 square meter Advanced Design Studio employs a total of around 20 designers who will contribute to the future design of Mercedes-Benz automobiles, competing and working with the company's other studios in Germany, Italy, Japan and the USA.