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Italian investigators search Lambo headquarters in VW probe

Italian investigators searched Lamborghini headquarters on Oct. 15 to look for evidence of managers' involvement in Volkswagen's emissions cheating. VW's main office in Verona was also inspected, according to Reuters. Lamborghini is owned by Volkswagen, and Lambo in turn is listed as the owner of VW Group Italia. Authorities wanted to find out if employees were conscious that the vehicles were skirting emissions rules. "It is one thing if I sell water and pretend it's wine, but if I sell water believing it is wine it's different." Verona chief prosecutor Mario Giulio Schinaia said to Reuters. Italian newspaper Gazetta del Sud reported that several managers in Italy were under investigation for alleged fraud. Prosecutors in Germany have also been rigorously investigating VW, and they recently staged a similar raid on the company's headquarters in Wolfsburg, Germany. The automaker reportedly turned over documents and other data relating to the software defeat device. Meanwhile, VW's internal investigation has turned up little wrongdoing, though a recent leak suggested otherwise, and at least 30 managers could have known about the defeat device. The automaker has disputed that figure. Volkswagen of America CEO Michael Horn testified before Congress that he believed only a few individuals were involved. The situation hasn't been easy on VW in the US, either. The Department of Justice has also been pursuing an investigation into the automaker. Plus, state attorneys general are filing lawsuits against the company for defrauding customers. VW has until Nov. 20 to explain a repair for the problem to the California Air Resources Board. Related Video:

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.

Lamborghini loans an Aventador S to father and son building 3D-printed replica

In October we shared the story of Sterling Backus, the physicist in Erie, Colo., who was building a Lamborghini Aventador replica with his 11-year-old son Xander. In progress for nearly two years, Backus — who designs lasers as his day job — fabricated a steel chassis, sourced an LS1 V8 from a Chevrolet Corvette for power, bought lights on eBay and 3D-printed the body panels that were then encapsulated in carbon fiber. Backus and son call the coupe the Interceptor, and Sterling said he subtly changed every exterior panel to avoid legal issues with Lamborghini. The Sant'Agata automaker was paying attention to the Interceptor, though, as an exec phoned Sterling about it before Christmas. The subject of the call: Lamborghini's marketing chief wanted to know if he and Xander would like to borrow an Aventador S for a couple of weeks and shoot a video. The Italian automaker has been known to go on hunts for deep-down Lamborghini fans. Last year Lamborghini had a surprise for one lucky kid going Christmas shopping at a store in Italy; kids that said they wanted a model Lamborghini were told the store was out, and almost all the kids accepted a different model instead. One child made it clear he didn't want a substitute if he couldn't have the Lamborghini, so he not only got a the model he wanted, he got it delivered in a Lamborghini driven by factory driver Marco Mapelli. Xander's devotion to the Aventador in "Forza Horizon 3" is what compelled him to ask his father if they could build a real-life version. For that, Xander and Sterling earned Lamborghini's #RealLover distinction this year. Katia Bassi, Lamborghini's CMO, said, "Automobili Lamborghini is against any attempt at counterfeiting. However, a true story of such authentic passion deserves to be featured, which is why we chose to tell of SterlingÂ’s and XanderÂ’s project in our 2019 Christmas video." Lamborghini Real Lover Campaign View 21 Photos The Interceptor build continues, documented on Facebook. The senior Backus aims to turn his work it into an educational tool. "Ultimately, I want kids to get interested in STEM, and this is a great platform for it because of all the disciplines involved in a project like this." But after 20 months of effort, he and Xander will probably enjoy taking a holiday break in the car that started it all. Related Video: