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Audi reportedly shoots down $9.2 billion investor bid for Lamborghini

Volkswagen is open to divesting some of the brands in its portfolio, but it hasn't put a "for sale" sign on in front of Lamborghini's lawn yet. The firm allegedly shot down a big offer for the brand from a group of investors. Quantum Group SA, a newly-established holding company based in Zurich, Switzerland, made the non-binding offer in May 2021, according to anonymous sources who spoke to WardsAuto. The publication adds the group is ready to spend 7.5 billion euros (around $9.2 billion at the current conversion rate) to buy the entire Lamborghini division from Audi. The sale would include the brand, its intellectual property (like its trademarks and patents), its historic factory in Sant'Agata Bolognese, and its racing division. Full details about the proposed acquisition were closely examined by top Volkswagen executives, including company CEO Herbert Diess and Audi boss Markus Duesmann. While the offer sounds like it's neatly packaged, Volkswagen replied that it's not having a garage sale. "Lamborghini is not for sale. This is not the subject of any discussion within the group," a company spokesperson told industry trade journal Automotive News. These comments are in line with the ones made in December 2020. Quantum's aim wasn't to sever all ties with Volkswagen. It planned to turn Lamborghini into "a spearhead for innovation by consistently implementing new clean drivetrain technologies" across the range, a strategy that's already in the pipeline; Lamborghini announced it will electrify in the 2020s and launch its first series-produced EV. Investors also hoped to sign a five-year supply agreement with Audi, and to create what they called an Advanced Automotive Innovation Center headquartered somewhere in Lower Saxony, the German state Wolfsburg is in. In late 2020, when rumors about an imminent Lamborghini spin-off were rampant, Volkswagen stressed it had no plans to sell the Italian supercar manufacturer or to find a new home for Ducati, which Lamborghini owns. Unverified reports claim a chunk of the company could be listed on the stock market in a bid to raise revenue, however. Bugatti is another part of the Volkswagen empire that Diess and his team allegedly wanted to trade in to fund the group's pivot towards electric powertrains. In September 2020, reports claimed top executives had approved swapping the storied French carmaker and its assets for a significant stake in Croatia-based Rimac that would be transferred directly to Porsche.

Volkswagen, Bosch reach diesel settlement worth $1.6 billion

Volkswagen Group of America and automotive parts maker Bosch reached a settlement in which the two companies will pay a combined $1.6 billion because of their roles in the automaker's diesel-emissions scandal. VW, Europe's largest automaker, will pay about $1.2 billion to either repair or buy back vehicles. Bosch said separately that it will pay more than $300 million to owners of diesel-powered Volkswagens, Audis, and Porsches. The settlement stems from emissions issues related to about 78,000 VW-made cars and SUVs with 3.0-liter V6 diesel engines that were sold in North America. VW will recall and repair about 58,000 vehicles made for the 2013-through-2016 model years. The company will also buy back, offer a trade-in credit, or terminate the leases for about 20,000 cars for the model years 2009 through 2012. The older impacted models are the Volkswagen Touareg and Audi Q7, while the newer ones are the Touareg and Q7 as well as Audi's A6, A7, A8, A8L, and Q5 models, and finally the Porsche Cayenne Diesel. Previous reports estimated the payout at closer to $1 billion. The US settlement follows one reached last year between VW and US regulators in regards to VW's 2.0-liter diesel engines. That settlement was estimated to cost VW about $15 billion and impacted owners of about 500,000 vehicles. VW has had a stop-sale on its diesel vehicles in the US since late 2015 after it was discovered that VW installed software in its diesels that allowed those vehicles to cheat emissions-testing systems. VW on Wednesday also reiterated that it would contribute $225 million towards environmental-remediation efforts in the US. Volkswagen of America CEO Hinrich J. Woebcken, in Wednesday's statement, said that "we will continue to work to earn back the trust of all our stakeholders and thank our customers and dealers for their continued patience as this process moves forward." Related Video: News Source: Volkswagen via Automotive News-sub.req.Image Credit: Shannon Stapleton / Reuters Government/Legal Green Audi Porsche Volkswagen AutoblogGreen Exclusive Emissions Diesel Vehicles vw diesel scandal scandal settlement

Audi says 13% of A3 sales are E-Tron plug-in hybrids

Audi's most recent metric for plug-in sales of its A3 Sportback line brings up the classic "glass half full" or "glass half empty" conundrum. The German automaker says that almost 13 percent of its A3 sales during the past year have been of the E-Tron plug-in hybrid variety. That's a decent rate, and a notable one because Audi said late last year that it was hoping that as much as a quarter of its global sales will be plug-in vehicles by 2025. The 2017 model-year Audi A3 Sportback E-Tron has the same specs as the 2016 version, featuring a 1.4-liter engine paired with an electric motor that together deliver 204 horsepower and 258 lb-ft of torque. The 2016 version was rated by the Environmental Protection Agency (EPA) as having an 86 miles per gallon-equivalent rating, and was estimated to be able to go as far as 16 miles on electricity alone. Audi notes that the EPA hasn't yet rated the 2017 version, but we expect it to be the same. The plug-in hybrid can zip from 0 to 60 miles per hour in 7.6 seconds. As for that 13-percent figure, Audi didn't specify if that meant US or global sales. The company moved 19,622 A3s in the US through July. At 13 percent, Audi would've sold about 2,500 A3 plug-in hybrids. To put that in perspective, the Ford Fusion and C-Max Energi PHEVs have moved 8,576 and 8,155 units this year, respectively. Audi of America president Scott Keogh said on the eve of last year's Los Angeles Auto Show in November that he wanted 25 percent of Audi sales to be plug-ins by 2025. The following month, Audi said it was hitting that 25-percent threshold in Norway and the Netherlands, where citizens tend to be a bit more plug-in-centric than Americans. But it's a good start. Check out our First Drive impressions of the 2016 A3 E-Tron here. Related Video: Featured Gallery 2017 Audi A3 Sportback e-tron News Source: Audi Green Audi Hybrid PHEV e-tron audi e-tron sportback a3