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Lamborghini could be sold or spun off from the Volkswagen Group

Volkswagen is reportedly considering a sale or stock listing for its high-end Lamborghini brand. The German automaker is looking to fold the Italian supercar brand into a separate legal entity, reports Bloomberg, which cites "people familiar with the matter" who don't want to be identified "because the deliberations are confidential and no decisions have been made." Any of this sound familiar? The goal of spinning off Lamborghini would be to stockpile more cash and other resources for VW's massive planned push into electric vehicles. Back in March, reports circulated that Volkswagen's "Vision 2030" corporate plan might include plans to focus on the brand's core brands — VW, Audi and Porsche. That means the futures of fringe players like Lamborghini, Bentley, Bugatti, motorcycle brand Ducati and design firm Italdesign (and note this isn't a comprehensive list of brand's under the expansive VW Group umbrella) are up in the air. VW, according to the report, is targeting a market value of $220 billion, which is a big jump from the brand's current $89 billion valuation. Bloomberg pegged Lamborghini's valuation at around $11 billion back in August, buoyed by sales and profits generated by the introduction of the Urus sport utility vehicle. On the flip side, Lamborghini is currently grappling with how best to update its supercar lineup in the face of ever-increasing emissions regulations.

Hydrogen could deliver one fifth of world carbon cuts by 2050, industry says

BONN, Germany — Increasing the use of hydrogen in power, transport, heat and industry could deliver around one fifth of the total carbon emissions cuts needed to limit global warming to safe levels by mid-century, a report by the Hydrogen Council said on Monday. To encourage industries to use hydrogen, Toyota and Air Liquide helped set up the Hydrogen Council, a global lobby launched in January this year. Its 27 members include automakers Audi, BMW, Daimler, Honda and Hyundai, and energy firms such as Shell and Total. The council said using hydrogen for transport, energy generation, energy storage, industry, heat and power could cut annual carbon emissions by 6 billion tonnes by 2050. "This would ... contribute roughly 20 percent of the additional abatement required to limit global warming to two degrees Celsius," the council said in a report released on the sidelines of a U.N. climate conference in Bonn. To achieve a two-degree limit this century agreed by governments in Paris in 2015, the world must reduce energy-related carbon emissions by 60 percent by 2050. The report said one in 12 cars sold in California, Germany and Japan were expected to be powered by hydrogen by 2030. By 2050, hydrogen could power 400 million cars, 15 million to 20 million trucks, around 5 million buses, a quarter of passenger ships and a fifth of non-electrified train tracks, as well as some airplanes and freight ships. Achieving this shift in transport and other sectors would require investment of $280 billion by 2030, with about $110 billion to fund hydrogen output, $80 billion for storage, transport and distribution, and $70 billion to develop products. Fuel cell vehicles combine hydrogen and oxygen to produce electricity to power an electric motor, producing water as a byproduct. However, making hydrogen from fossil fuels, a common route, also produces some greenhouse gas emissions. So far the take-up of hydrogen vehicles is tiny and industry experts say their wider use is years away, with high purchase prices and a lack of refueling stations the major barriers. But some firms, such as miner Anglo American and carmaker Toyota, are pushing for fuel cell cars to play a role even with the rise of battery-powered electric vehicles (EVs). Woong-chul Yang, vice chairman of automotive research and development at Hyundai said EVs and hydrogen fuel cell cars were needed because EVs were better for city driving and fuel cell vehicles better for longer journeys.

Audi will submit emissions fix for 3.0 TDI V6 to EPA and CARB

Audi will develop a software update for the emissions control system on Volkswagen Group's 3.0 TDI V6 and will submit the changes to the Environmental Protection Agency and California Air Resources Board for approval. If the government regulators accept it, the tweaks could end the emissions problems for an estimated 85,000 of these engines in the US in Audi, Porsche, and VW models. However, the stop-sale still covers these vehicles until further notice. Audi admits in its statement to failing to disclose three "auxiliary emission control devices" on the V6 to regulators, and US law considers one of these systems a defeat device. VW Group offered the engine in the US on the Audi A6, A7, A8, Q5, and Q7 since the 2009 model year. The mill was also available on the VW Touareg and Porsche Cayenne. The EPA filed a violation against the 3.0 TDI on November 2 because the agency reported that the engine's software contained a defeat device to circumvent emissions tests. The regulator recently extended that notice to cover these powerplants in the US from the 2009 to 2016 model years. Audi's statement vaguely estimates the price of this problem to be in the "mid-double-digit millions of euros," and the automaker could face financial punishment by regulators. "Determinations regarding potential penalties and other remedies will be assessed as part of the investigation EPA has opened in conjunction with the US Department of Justice," an EPA spokesperson told Automotive News. Related Video: Statement on Audi's discussions with the US environmental authorities EPA and CARB Auxiliary emission control devices (AECD) for US version of V6 TDI 3 liter engine to be revised, documented and submitted for approval Technical solution for North America versions from 2009 model year onwards to be worked out in conjunction with the authorities Audi will revise, document in detail, and resubmit for US approval certain parameters of the engine-management software used in the V6 TDI 3 liter diesel engine. That is the result of the discussions held between a delegation from AUDI AG and the US Environmental Protection Agency (EPA) and the California Air Resources Board (CARB). The updated software will be installed as soon as it is approved by the authorities. The three brands Audi, Porsche and Volkswagen are affected. Audi estimates that the related expense will be in the mid-double-digit millions of euros.