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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 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.

Audi recalls A6, A7, and A3 in two airbag-related campaigns

Audi will recall a total of 21,978 vehicles in the US across two campaigns. The Basics: Audi's larger recall covers 21,074 examples of 2012-2013 A6 sedans with manufacturing dates between March 28, 2011, and March 25, 2013, and the 2012-2013 A7 models built between January 25, 2011, and March 19, 2013. The Problem: In examples of the sedans with heated and cooled seats, the Passenger Occupant Detection System can malfunction and prevent the passenger's side airbag from deploying in a crash. Injuries/Deaths: None reported. The Fix: Dealers will repair the Passenger Occupant Detection System. If You Own One: Audi will begin the recall in February 2016. The Basics: In the smaller safety campaign, Audi will recall 904 examples of the 2015 A3 Cabriolet built between June 5, 2014, and April 1, 2015. The Problem: The driver or front passenger seat covers might not have the correct stitching, and this could prevent the side airbag from properly deploying in a crash. Injuries/Deaths: None reported. The Fix: Dealers will replace the seatback covers on affected seats. If You Own One: Audi will begin the recall in February 2016. Related Video: RECALL Subject : Passenger Seat Occupant Detection System may Fail Report Receipt Date: DEC 08, 2015 NHTSA Campaign Number: 15V823000 Component(s): AIR BAGS Potential Number of Units Affected: 21,074 All Products Associated with this Recall Vehicle MakeModelModel Year(s) AUDI A6 2012-2013 AUDI A7 2012-2013 Details Manufacturer: Volkswagen Group of America, Inc. SUMMARY: Volkswagen Group of America, Inc. (Volkswagen) is recalling certain model year 2012-2013 Audi A6 vehicles manufactured March 28, 2011, to March 25, 2013, and 2012-2013 Audi A7 vehicles manufactured January 25, 2011, to March 19, 2013. In vehicles with heated and cooled seats, the Passenger Occupant Detection System (PODS), used to enable the front passenger air bags, may malfunction and prevent the passenger-side air bags from deploying in a crash. CONSEQUENCE: An air bag that does not deploy as intended increases the risk of occupant injury in a crash. REMEDY: Volkswagen will notify owners, and Audi dealers will install a PODS system repair kit, free of charge. The recall is expected to begin in February 2016. Owners may contact Audi customer service at 1-800-253-2834. Volkswagen's number for this recall is 74D1.