12:00 pm, May 26, 2021
Volkswagen Group has received a €7.5bn (£6.49bn) offer for its Lamborghini brand, reports suggest.
Autocar says it has seen a copy of the non-biding offer in a letter of intent, as well as other confidential documents, for the purchase of Automobili Lamborghini.
The offer has come from a new Zurich-based holding company called Quantum Group AG, which is said to have formed a consortium with London-based investment firm Centricus Asset Management.
Quantum Group AG is being represented by Rea Stark, a co-founder of Piech Automotive.
Anton Piech, the son of former VW Group boss Ferdinand Piech, is one of the company’s executives, as is Matthias Muller, former CEO of another VW Group brand, Porsche.
Autocar, which claims to have obtained a copy of the offer as well as other confidential documents, suggest Quantum wants to form a strategic partnership with VW Group, which would likely relate to running Lamborghini as well as any other automotive projects Piech Automotive might have.
It also plans to work with Audi at ‘one arm’s length terms’ through a five-year supplier agreement.
Quantum Group plans to work with VW Group on a new factory in Lower Saxony, Germany, to develop and produce battery cells and battery packs, as well as software, autonomous driving technology and green fuels.
Automobili Lamborghini was founded in 1963 by Ferruccio Lamborghini and has its headquarters and factory in Sant’Agata Bolognese, Italy. It was bought by Audi in 1998 and has been in the VW Group ever since.
Last week, the firm laid out its plans to switch to electric powertrains, with a hybrid coming around 2024 before its first full EV is released by 2030.
