The Volkswagen Group has stated that it has no plans to sell Lamborghini following a report indicating that a bid had been tabled by a consortium for the Italian sports car brand. On Tuesday, Autocar had reported that a €7.5 billion (RM37.8 billion) letter of intent regarding a purchase had been sent two weeks ago by Switzerland’s Quantum Group.
As the news emerged, the automaker moved quickly to dispel the idea that a potential sale was even being mulled, CNN reports. “Lamborghini is not for sale, full stop. Audi AG and the Volkswagen Group [are] not considering this offer,” said a spokesman for Audi, the Volkswagen subsidiary that controls Lamborghini.
The non-binding offer from investment firm Quantum Group includes a five-year supplier agreement with Audi where there would be sharing of intellectual property and electric vehicle technology, Autocar said. The brand’s existing management would also be retained, with existing jobs protected for five years.
The report also indicated that Quantum, which has no history of car manufacturing, was looking at building an advanced automotive innovation centre in Germany for the development and production of battery cells and battery packs, which would see the creation of up to 850 new jobs.
Quantum is headed by Rea Stark, co-founder of Piech Automobile with Anton Piech, the son of former Volkswagen chairman Ferdinand Piech, who oversaw Volkswagen’s purchase of Lamborghini from Indonesian company Megatech for a reported US$110 million in 1998. The chairman of Piech Automobile, which unveiled its Piech Mark Zero GT in Geneva two years ago, is ex-VW CEO Matthias Müller.
Looking to sell your car? Sell it with Carro.
Indon company Megatech must be crying for selling out. unlike P1 who grew Lotus & MV Augusta to become class leader #pkpp #kitajagakita #kitaakanmenang
Funnily Lotus & MVA are still well sort-after brands despite minimal investment put in, unlike Lambo which could have died a ignominious death had VW not pump in billions to drag that brand into the 21st century.
unlike Proton which could have died a ignominious death had Rakyat not pump in 35 billions to drag that brand into the 21st century
The biggest take from this news is that Lamborghini worth just USD110 million in 1998 when under the management of an Indonesian based company, now just 23 years later valued at least €7.5 billion.
Looking forward to see what Lotus is worth under Geely.
Any company that VW takes over turns into a cash cow. Look at Skoda and Seat before VW and now. VW have made them so good, people rather buy those cars than VWs own brand!
Looking to buy Lamborghini tractor soon