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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.

Bertone's Lamborghini-V12-powered minivan was ahead of its time

PARIS — Italian design house Bertone traveled to the 1988 edition of the Turin auto show (which was still a big deal in the late 1980s) to unveil a Lamborghini-powered design study. This wasn't unusual, as the two companies had worked together for decades, but the Genesis concept turned every head in the convention center because it was a van. Now it's turning heads again this week at the Retromobile Show in Paris. Bertone's styling and prototype-building teams allegedly spent a total of 30,000 hours making the Genesis look more futuristic than the minivans many kids carpooled to school in during the late 1980s, and much sportier. It needed to tick both boxes. It was a concept car, so it had captivate the public's attention, and it was powered by a 455-horsepower, 5.2-liter V12 borrowed from the Countach Quattrovalvole, so looking the part was a must. The mighty, front-mid-mounted 12 channeled its power to the rear wheels through a rather lame three-speed automatic transmission provided by Chrysler, which owned Lamborghini at the time. Sliding doors gave the rear passengers access to one of the more unusual interiors we've seen. There were two front-facing seats positioned over the rear wheels, and a single rear-facing chair in the middle of the interior. The front passengers faced forward, as you'd expect, but they could also move their seat cushion around to look at the folks riding in the back. Someone still needed to drive, so this configuration was best used when parked. While naming the concept Genesis was a little bit optimistic on Bertone's part, putting a Lamborghini engine in a minivan with butterfly doors was a courageous move. It was ahead of its time, too, because blob-shaped vans are a dime a dozen at the annual Consumer Electronics Show (CES) and they're almost universally welcomed as the transportation of the future. Bertone may not have had autonomous technology to play with, but it had a V12. Related Video:     Featured Gallery 1988 Bertone Genesis at Retromobile 2020 View 9 Photos Auto News Lamborghini Minivan/Van Performance Classics

Ferdinand Piech (1937-2019): The man who made VW global

Towering among his peers, a giant of the auto industry died Sunday night in Rosenheim/Upper Bavaria, Germany. Ferdinand Piech, a grandson of Ferdinand Porsche, who conceived the original Volkswagen in the 1930s, was the most polarizing automotive executive of our times. And one who brought automotive technology further than anyone else. Ferdinand Porsche had a son, Ferdinand (called "Ferry"), and a daughter, Louise, who married the Viennese lawyer Anton Piech. They gave birth to Ferdinand Piech, and his proximity to two Alfa Romeo sports cars — Porsche had done some work for the Italians — and the "Berlin-Rome-Berlin" race car, developed by Porsche himself, gave birth to Piech's interest in cars. After his teachers in Salzburg told his mother he was "too stupid" to attend school there, Piech, who was open about his dyslexia, was sent to a boarding school in Switzerland. He subsequently moved on to Porsche, where he fixed issues with the 904 race car and did major work on the 911. But his greatest project was the Le Mans-winning 917 race car, developed at breathtaking financial cost. It annihilated the competition, but the family had had enough: Amid growing tension among the four cousins working at Porsche and Piech's uncle Ferry, the family decided to pull every family member, except for Ferry, out of their management positions. Piech started his own consultancy business, where he designed the famous five-cylinder diesel for Mercedes-Benz, but quickly moved on to Audi, first as an engineer and then as CEO, where he set out to transform the dull brand into a technology leader. Piech killed the Wankel engine and hammered out a number of ambitious and sophisticated technologies. Among them: The five-cylinder gasoline engine; Quattro all-wheel drive and Audi's fantastic rally successes; and turbocharging, developed with Fritz Indra, whom Piech recruited from Alpina. The Audi 100/200/5000 became the world's fastest production sedan, thanks to their superior aerodynamics. Piech also launched zinc-coated bodies for longevity — and gave diesel technology a decisive boost with the advent of the fast and ultra-efficient TDI engines. Less known: Piech also decided to put larger gas tanks into cars. Customers loved it. Piech's first-generation Audi V8 was met with derision by competitors; it was too obviously based on the 200/5000.