Audi to Sell Design Firm That Worked on First VW Golf to UST

Volkswagen AG’s Audi has reached an agreement to sell a majority stake in its Italdesign Giugiaro SpA subsidiary to California-based technology company UST.

Audi’s performance-car brand Lamborghini will “retain a significant stake” in the Italian design business, the carmaker said in a statement Wednesday. “Audi will remain a strategic partner of Italdesign in the long term, as well as an important client of the company.”

UST said it will bring its expertise in digital engineering, vehicle electronics and artificial intelligence to the partnership. Financial terms weren’t disclosed.

Audi and its parent have been looking into ways to streamline ...