Details of the proposal are here.
In somewhat unexpected news earlier this week, the Volkswagen Group received a $9.19 billion offer to buy Lamborghini from Swiss holding company Quantum Group AG. The German automaker quickly turned down the offer by making it very clear Lamborghini was not for sale. Speculation about the Italian supercar company's sale or IPO has been around for months, but VW's final decision is just that - final. Or is it?
Following VW's rejection, Reuters reports that the Quantum Group announced that its proposed acquisition "would deliver attractive value to all shareholders and… would clearly be a key strategic benefit to the wider Volkswagen Group." In other words, it's trying to tell VW it's in its best interest to cut a deal.
"The intention of the currently valid bid is to transform and strengthen the Lamborghini brand," Quantum added. "By consistently implementing new clean powertrain technologies and a groundbreaking user experience, Lamborghini would become a spearhead of innovation - consistent with the future needs of customers."
One of the Quantum Group's two founding partners is Toni Piech, the son of former Volkswagen Chairman Ferdinand Piech (himself the grandson of Ferdinand Porsche) who died in 2019.
The younger Piech clearly sees a growth opportunity for Lamborghini beyond the recently announced three-part plan that'd see it launch an EV by 2030. Its first series production hybrid, due in 2023, will likely be the refreshed Lamborghini Urus. Speaking more openly about its bid will doubtless increase the pressure on VW Group management by shareholders.
The hopeful buyer wants to convince shareholders that a sale is a financially better way to go. Volkswagen is still examining ways it can shore up additional funds towards its ambitious electric vehicle strategy. Over the next five years, it will invest $86 billion in digital and EV technologies. VW wants to be the global leader in electric vehicles and doing so won't be cheap. The Quantum Group's initial $9 billion offer maybe just that - a first offer.
The ball is now back in its hands and if it's truly serious about purchasing Lamborghini it'll have to, at the very least, increase that amount to get VW to possibly reconsider.