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VW has received several tentative bids for Ducati

Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany's Volkswagen, sources involved in the process told Reuters. Volkswagen, whose Audi division controls Ducati, has received several tentative bids with the Benetton family's investment vehicle Edizione Holding valuing the Monster motorbike maker at $1.2 billion, one of the sources said. As well as Edizione Holding, U.S. buyout fund Bain Capital, which owns a stake in Ski-Doo snowmobiles maker BRB, and two Indian motorbike firms, Eicher Motors and Bajaj Auto, have also bid for Ducati, the sources said. Indian carmaker Eicher controls Royal Enfield, a motorcycle brand established in 1893 which ranks as one of the oldest. Strategic bidders also include U.S. automotive firm Polaris Industries, which earlier this year said it would wind down its struggling Victory Motorcycle brand. A shortlist of bidders for a second stage of the auction could be selected as soon as Saturday, two of the sources said. Volkswagen adviser Evercore has a long list of bidders including private equity funds such as Ducati's previous owner Investindustrial, CVC Capital Partners, Advent and PAI, all hoping to outbid industry players, the sources said. If it gets to the second round, Edizione Holding could seek to form a consortium with a financial investor, two of the sources said, in a bid to secure control of Ducati, whose racers have won the Superbike world championship 14 times, with Carl Fogarty and Troy Bayliss its most successful riders. Audi, Edizione Holding, Investindustrial, Advent and PAI declined to comment, while the other interested groups were not immediately available for comment. PRICING CHALLENGES For some buyout funds, Ducati's valuation of up to $1.4 billion – which sources said is based on a multiple of more than 10 times its core earnings of roughly 100 million euros – is a tall order as they lack the synergies that some motorbike makers could achieve. But Investindustrial founder Andrea Bonomi, who sold Ducati to Audi for about 860 million euros in 2012, is serious about a comeback, one of the sources said. China's Loncin Motor was among a group of industry players that initially showed interest in Ducati, alongside Harley-Davidson. The latter has, however, decided against making a bid due to Ducati's price tag, while it could not be established if Loncin Motor had carried on bidding.

Audi on Demand pilot program launches in San Francisco

Customers eager to drive a new Audi but unwilling or unable to plunk down the purchase price for one will be intrigued by the launch of the new Audi on Demand program. Initially being rolled out in San Francisco, Audi on Demand is based around an iPhone app that allows clients to order up a new Audi of their choosing on a day-by-day basis for up to 28 days in a row. Order an Audi through the app and a "personal concierge" will deliver the car anywhere in the city – curbside, driveway, parking lot, office building... pretty much anywhere the customer chooses. The concierge will even help set up the audio and navigation systems to the customer's preferences. And if the customer isn't there to receive the vehicle in person, he or she can simply unlock it through the app, start it up and drive off. The service is being made available on a broad range of Audi models, from the A4 all the way up to the R8. Customers can even specify a child seat or (on an Allroad or Q5) a ski or bike rack, and are guaranteed that the vehicle they select will be the one they get, right down to the color and trim. Though being launched at first only in San Francisco, Audi says it will roll out the program in other American cities "in the coming years." In announcing the program, Audi also revealed that it's planning to launch Audi at Home as well, a "micro-sharing" service that will allow residents of select condo complexes to share a fleet of Audis as well. These, of course, are just the latest smartphone-enabled conveniences being introduced by the German automaker, following its collaboration with Amazon and DHL for in-trunk delivery. Related Video: Audi launches innovative mobility program: Audi on demand April 27, 2015 | SAN FRANCISCO, California - Audi on demand launches beta program in San Francisco - Innovative premium service allows customers to choose their preferred Audi model via iPhone app - Personal concierge delivers vehicle to a San Francisco location of customer's choosing Audi today introduced Audi on demand, an innovative mobility program that gives customers a new way to experience the Audi brand and its range of vehicles at the touch of a button. With Audi on demand, customers can reserve an Audi by the day for up to 28 days. The premium service is currently available in San Francisco as part of a beta program and will be rolled out across additional U.S. cities in the coming years.

VW and partner SAIC start building $2.5B Audi plant in China

BEIJING — Volkswagen AG's China joint venture with SAIC Motor Corp has started building a $2.5 billion new energy vehicle (NEV) plant in Shanghai, which will make VW's luxury Audi brand cars, a possible first for the venture. The new plant is a key step for Audi to diversify production of its cars in the world's largest car market from its long-standing local partner, China FAW Group Corp. This shift has been delayed amid resistance from local dealers. SAIC Volkswagen said the new plant would have an annual capacity to make 300,000 cars and begin production from 2020. Audi sold 481,387 vehicles in China from January to September this year. The announcement comes the same week Tesla secured a Shanghai location for a Gigafactory battery plant to serve the Chinese market. Audi unveiled the plan to bolster ties with SAIC in late 2016. Earlier this year, the Germany luxury carmaker bought a 1 percent stake in the SAIC Volkswagen venture, paving the way for the joint venture to produce and sell Audi cars. Volkswagen currently gets a larger proportion of the proceeds from the 50-50 tie-up with SAIC than from its 40 percent stake in the venture with FAW. SAIC Volkswagen said in a statement on Friday the plant would cost 17 billion yuan ($2.5 billion) and would make VW and Skoda models as well as Audi cars. It will help VW tap China's fast-growing market for NEVs, a category comprising electric battery cars and plug-in electric hybrid vehicles. ($1 = 6.9314 Chinese yuan renminbi) Reporting by Yilei Sun and Adam JourdanRelated Video: Image Credit: Reuters Green Plants/Manufacturing Audi Volkswagen Skoda Electric Hybrid