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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:

Audi exec suspended over diesel scandal

So far, just one lower-level employee has plead guilty in the ongoing VW diesel scandal. Up high, the VW CEO when the scandal broke, Martin Winterkorn, resigned right after the news came out. Other executives have also quit or been suspended as well. Today, we learn that one more executive is feeling the heat a year into the scandal. Stefan Knirsch, the head of technical development at Audi and Audi board member, is going to be suspended from his position this week because of his ties to the technology that VW Group used to cheat emissions tests. The German newspaper Bild Am Sonntag reports that Knirsch not only knew that the cheating software existed but also lied about it under oath. Knirsch previously worked at Porsche and then Audi's electrification division. He left Audi's EV efforts behind in early 2015. News Source: ReutersImage Credit: REUTERS/Denis Balibouse/File Photo Government/Legal Green Audi Volkswagen Diesel Vehicles vw diesel scandal audi diesel diesel scandal

Audi RS Q3 gets snarlier, hits 62 mph in 4.8 seconds [w/video]

Well, that was quick. A mere 20 months after its debut at the 2013 Geneva Motor Show, Audi has issued a fairly significant update to its RS Q3 crossover. A light exterior refresh - the most noticeable change is that the grille surround and headlights are now joined - belies more significant changes under the compact crossover's hood.
Power from the 2.5-liter, turbocharged five-cylinder has been boosted nicely from 310 horsepower to 340, while torque has jumped from 309 pound-feet to 332 lb-ft. The result of this extra thrust is that the tiny CUV can now scamper to 62 miles per hour in a seriously quick 4.8 seconds, rather than the original RS Q3's 5.5-second sprint. A new fifth-generation multi-plate clutch is fitted to the seven-speed S-tronic dual-clutch transmission, which Audi claims will now deliver even quicker shifts.
Lighter brake rotors with ridiculous eight-piston calipers in the front provide what we imagine is a lot of stopping power, while Audi continues to offer an optional adaptive damper system. 19-inch wheels are standard while 20s are optional.