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Volkswagen may 'carve out' Lamborghini to list on the stock exchange

FRANKFURT — Volkswagen is drawing up plans to set up Lamborghini as a more independent unit, and is discussing long-term supply deals that could make it easier to list it on the stock exchange, two sources familiar with the matter told Reuters. "Volkswagen is in the process of carving out Lamborghini, and to organize future supply and technology transfer deals," one of the sources familiar with the matter told Reuters. The Italian sportscar brand, which is currently a division of Audi, could be partially listed, with Volkswagen retaining a controlling stake, the first person familiar with the talks said. There is no formal decision to divest Lamborghini, a second source said, adding that the timetable of any deal remained unclear. "This is a first step which gives VW the option to list the unit further down the line," the second source told Reuters. A third source familiar with the discussions said the future of Bugatti, Lamborghini and Ducati was discussed during a supervisory board meeting last Friday. The possibilities for how to electrify the Lamborghini and Bugatti brands through partnerships and investors was discussed, the third source said. Bankers and potential cornerstone investors in an IPO have been approached by the carmaker, the sources said. Volkswagen declined to comment. Volkswagen Group's Chief Executive Herbert Diess on Wednesday said the carmaker will announce "important steps" about the company's future before the close of the year. Volkswagen is reviewing what role its high-performance brands Lamborghini, Bugatti and Ducati will play within the multi-brand carmaker as part of broader quest for more economies of scale, senior executives told Reuters. A global clampdown on combustion-engined vehicles has forced carmakers to accelerate development of low-emission technology for mainstream models, leaving Volkswagen managers struggling to find resources to electrify low volume sportscar models. Related Video:

Adam Carolla is world's the least helpful test drive co-pilot

If you were going to test drive a new car, who would you want to take with you? Your spouse? A friend? Maybe an automotive journalist? Well take it from us: there's one of us riding shotgun just about every time we go to drive anything, and we're not all we're cracked up to be.
How about a celebrity comedian? Well, that largely depends on which comedian we're talking about here. Some - say, Jerry Seinfeld or Jay Leno, for example - might be more helpful than others, being more or less schooled in the finer points of the modern automobile. Adam Carolla might seem like he belongs on that list too, but in this latest video for a friends at Edmunds.com, the one-time host of The Car Show on Speed TV seems bent on being as comedically intrusive as possible. Which may be funny, but helpful? Not so much. See what we mean in the video below, and the next time you go to test drive a new car, you just might find the world's most popular podcast host climbing in with you.

VW internal investigation finds 'no evidence' against suspended engineers

Volkswagen is still working out the chain of events that led to emissions-evading software being installed in 11 million diesel vehicles worldwide and deciding who was responsible for the treachery. So far, the German automotive giant's internal investigation hasn't publicly named many suspects, and three suspended executive-level engineers have been found not to be culpable in the wrongdoing, according to an anonymous insider speaking to Reuters. VW knows that the software began being installed in the EA 189 engine in 2008. The internal investigation has found that the emissions-evading tech was created because the powerplant was found to fail US standards. Plus, the diesel mill wasn't meeting cost targets, according to Reuters. The automaker responded by suspending over 10 employees, but three top engineers among them might not have been involved. Those put on leave include Heinz-Jakob Neusser from VW, Ulrich Hackenberg from Audi, and Wolfgang Hatz who led Porsche's research and group-wide engine development. The internal detective work hasn't turned up any evidence against these three men. In addition to VW's own inquires, government investigators in both the US and Germany are taking a serious look into the company's actions, too. So far, the automaker is setting aside about $7.3 billion to pay to fix the vehicles with the evasive software. Depending on what authorities find, the costs could grow quickly. Beyond the financial implications, the scandal has led to a serious shakeup in VW's corporate structure. Related Video: