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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:

2019 Lamborghini Aventador S Roadster First Drive Review: Refined bull

It fires up the same way as the fixed-roof coupe, via a missile launcher-style shield hiding a small hexagonal Start button. With a firm press the starter whirs as fuel dumps into all 12 cylinders, igniting 6.5 liters of air and gasoline in a riot of internal combustion. But with its roof off, the $460,247 Lamborghini Aventador S Roadster stirs to life with an incrementally different auditory punch, a cascade of deep, raspy notes pours more clearly out of the enormous exhaust pipes and into the snug cabin. Sound connoisseurs may notice the more mechanical whirs of valvetrain seeping into the cockpit, but we suspect the vast majority of Aventador S Roadster buyers are here for the sun – no doubt the reason Lamborghini organized this particular test-drive in Malibu, Calif. Our tester awaits with its twin carbon-fiber roof panels stowed in the nose, a rather convenient state because, as memory serves from our first-generation Aventador Roadster, the lid removal process requires a fairly awkward dance. Climbing inside is a considerably easier task when this Lambo is opened up to the elements. There's no head-ducking or awkward sliding, though once settled you will struggle for a place to stow your cell phone. Apart from the shallow glove box there are no other storage compartments, just a tiny USB/12-volt outlet beneath a flip-up lid that's barely big enough to hold a key fob. At least a small concession to convenience comes in the form of a removable cupholder mounted on the passenger side of the center console. When the massive V12 stirs to life, any concerns about practicality quickly fade away. The S Roadster gains the same improvements made to the S coupe, among them smoother suspension and improved aerodynamics (more downforce or less drag, depending on spoiler settings), the addition of four-wheel steering and a 38-horsepower gain, for a total of 729 hp. Also welcome is the ability to independently control suspension, steering and engine modes in what Lamborghini dubs the EGO setting. That said, it's all but impossible to ignore the human ego when rolling through town in an al fresco Lamborghini: The pointy two-seater cuts through traffic like a blade, leaving a wake of camera phone-wielding gawkers and swivel-necked onlookers fixated on its origami edges. But more crucially to those who care more about driving than posing, the updated Lambo delivers a palpably different left-seat experience compared with the first-gen Roadster.

As VW electrifies, it questions the role of Lamborghini, Bugatti, Ducati

FRANKFURT — Volkswagen needs to change to stay relevant in the electric and digital vehicle era and will announce "important steps" to that end before the close of the year, Chief Executive Herbert Diess said on Wednesday. "Volkswagen needs to change: From a collection of valuable brands and fascinating combustion-engine products that thrill customers with superb engineering — to a digital company that reliably operates millions of mobility devices worldwide," Diess told shareholders at the company's virtual general meeting. Vehicles need to stay in contact with customers, offer new services and comfort functions on a weekly or even daily basis, he said. "We will take further important steps to set the course for this in the rest of 2020," Diess said. Senior executives told Reuters the company is reviewing what role its high-performance brands Lamborghini, Bugatti and Ducati will play as the company increasingly focuses on electric, digital and autonomous vehicles. Volkswagen, which also owns VW, Audi, Porsche, Seat and Skoda, is looking at whether it has the resources to accelerate development of electric platforms for smaller brands at a time it is investing billions to transform its more mainstream cars. Asked whether Ducati, which is known for making noisy combustion-engined motorbikes, has an electric future, Markus Duesmann, who oversees research and development for the group, said: "It will not take long until we see an electric Ducati." Whether Ducati, which is a medium-sized premium motorbike brand, would offer an electric variant, depends on whether a bike could offer range comparable to a combustion-engined variant, Duesmann said. Advances are being made in battery technology which could make this possible, he added. Separately Frank Witter, the company's chief financial officer, in response to a question about whether a sale of Lamborghini is planned, said Volkswagen does not comment on speculation about potential divestments. Lamborghini's Chief Executive Stefano Domenicali this week announced his departure from the sports car maker to take on a new job as president of Formula One. VW needs cash Volkswagen is reviewing the future of these three high-performance brands as part of broader quest for more economies of scale as it shifts to mass producing electric cars, senior executives told Reuters.