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VW Group shoots down $ 9 billion Lamborghini bid

Lamborghini has changed hands several times since it was founded in 1963 as a way to introduce Ferrari. It is now owned by the Volkswagen Group and has recently been revealed to have no intention of selling the brand.

The Anglo-Swiss Quantum Group has reportedly proposed to buy a raging bull from VW for € 7.5 billion (US $ 9.16 billion), including a five-year contract to continue procuring parts from Audi. .. It without compromising the current lineup. The proposal was made at the beginning of the month and the Volkswagen Group gave the newly established holding company a prompt number.

Lamborghini is too profitable to consider selling. In particular, despite less than 8,000 units manufactured, its profits grew to $ 1.96 billion in 2019. Volkswagen would have effectively sold Golden Goose. The Quantum Group’s deals still look good on paper, but there were rumors that VW was trying to offload the supercar brand a few months ago.

In addition to payment, the transaction required a partnership related to the sharing of intellectual property and electric vehicle technology.by Auto car, Germany’s Lower Saxony, has an “Advanced Automotive Innovation Center” focused on collaborative development and production of battery cells and battery packs. Holding companies likewise wanted to develop autonomous systems and alternative fuel supply solutions. All of these are said to have benefited the Volkswagen Group. The deal pledged to retain all existing Lamborghini jobs for at least five years and promised to add about 850 new positions through a planned R & D center.

From Auto car:

Quantum Group AG is participating in a proposal to acquire Lamborghini by Rea Stark, co-founder of Piech Automotive.[sic], A Zurich-based company behind the Piëch Mark Zero GT unveiled at the 2019 Geneva Motor Show.

Executives at Piech Automotive include Anton Piech, son of Ferdinand Piëch, former chairman of the Volkswagen Group, and Matthias Müller, former Porsche CEO. However, at this time it is unclear if they are involved in the deal.

The acquisition of Automobili Lamborghini, which includes the well-known Santa Gata manufacturing headquarters in Italy and the motorsports business, is claimed to be central to the return on investment of Quantum Group AG, which seeks to discuss as a formal step with Volkswagen Group I am. Perform the first due diligence on the company.

Beyond the list of familiar names, none of the above is important as the deal was withdrawn by Volkswagen. It’s strange why such a comprehensive proposal was put together in the first place when VW, which denied the launch of Lamborghini in December 2020, was serious.

[Image: Grisha Bruev/Shutterstock]



VW Group shoots down $ 9 billion Lamborghini bid

Source link VW Group shoots down $ 9 billion Lamborghini bid

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