This is final. Supposedly.
Reports of Lamborghini being spun off from parent company Volkswagen Group have been swirling around for months. Officially owned and controlled by Audi, Lamborghini has thrived under German ownership and this has attracted some outside interested parties. Late yesterday, a Swiss holding company called Quantum Group AG officially submitted a non-binding offer of €7.5 billion ($9.19 billion) to buy Lamborghini. It took almost no time for a response.
Automotive News Europe has confirmed with Audi that Lamborghini "is not the subject of any discussion within the group. Lamborghini is not for sale." In addition to the stated amount, Quantum offered Lamborghini employees a five-year job guarantee. It also wanted to assume control of Lamborghini's management team from VW, but it didn't want to cut ties entirely.
Following its planned purchase of the Italian supercar brand, Quantum supposedly wanted to enter a strategic partnership with the VW Group that would have included a five-year supplier agreement with Audi. It also called for an "EV solution" by 2025. The VW Group may have perhaps foreseen an offer like this coming and decided to make the first move.
Last week, it held a live online presentation hosted by Lamborghini (and Bugatti) CEO Stephan Winkelmann. A three-part plan to reduce carbon emissions was revealed with the ultimate goal of launching an EV by 2030. The brand's electrification era is already underway thanks to the Lamborghini Sian. The first series-production hybrid, likely an electrified Urus, will launch in 2023.
Now we know VW fully intends to retain Lamborghini, some may be wondering how talks of a potential sale started. VW CEO Herbert Diess considered some sort of separation from Lamborghini last year, possibly via an IPO, a decision that's worked out extremely well for longtime rival Ferrari. Diess also wouldn't rule out a potential sale because he was seeking ways to generate additional cash to help fund VW's massive electrification push.
Fast-forward a year and Diess and his top executives determined Lamborghini still holds tremendous value and it's not worth selling. And with Winkelmann back at the helm, Lamborghini is better positioned to adapt to the quickly changing times.