The offer has been increased.
It was revealed last week that a Swiss holding company called Quantum Group AG offered to buy Lamborghini from the Volkswagen Group, where it's officially controlled by Audi, for over $9.1 billion. The German automaker immediately rejected the offer, stating the Italian supercar company was not for sale despite rumors to the contrary last year. Within just a couple of days of VW's announcement, the Quantum Group's two founding partners, Rei Stark and Toni Piech, the great-grandson of Ferdinand Porsche and son of former VW Chairman Ferdinand Piech, reiterated their offer is serious want to proceed. Again, VW turned them down. They're not giving up.
Automotive News Europe reports that the original multi-billion dollar offer has increased it by about $2.4 billion to further cover investments and job guarantees.
"Of course our offer is still valid. After all we have carefully weighed and thought through our decision for Lamborghini and the attached offer and concept," Stark said. "And if there is willingness to negotiate - whether that's investments, guarantees or the purchase price - then of course we are still prepared."
Tacking on nearly $2.5 billion to the original offer is a clear-cut sign the Quantum Group is serious and, in all likelihood, knew VW would reject the first proposal. Whether this latest offer will make VW reconsider remains to be seen. On the one hand, selling Lamborghini would be a great way for VW to receive additional funds for its bold electric vehicle strategy and investments.
But, Lamborghini still remains a highly valuable asset thanks to the hot-selling Lamborghini Urus. The carmaker also just announced its future product plan (only a few days before the Swiss firm's offer was publicly revealed, coincidentally or not) that calls for investing €1.5 billion through 2025 which will result in its entire lineup adopting hybrid technology.
The first all-electric model isn't due until 2030, five years after Ferrari's. The first series-production hybrid, likely an updated Urus, will arrive in 2023. The limited-edition Lamborghini Sian is the firm's first hybrid. There's a high likelihood VW will again turn down the offer but until we hear otherwise, anything's possible.