Lamborghini bidder Quantum makes innovation pitch to Volkswagen
12:20 pm Wednesday, May 26th, 2021
BERLIN (Reuters) -Swiss-based Quantum Group said its bid for Volkswagen’s Lamborghini division could turn the sports car brand into a “spearhead of innovation” in technology and clean energy.
The newly-established investor said on Wednesday its proposed acquisition “would deliver attractive value to all shareholders and … would clearly be a key strategic benefit to the wider Volkswagen Group”.
Volkswagen said on Tuesday that Lamborghini was not for sale, in response to a report that Quantum Group had, together with London-based Centricus Asset Management, bid 7.5 billion euros ($9.2 billion) to buy Lamborghini.
Quantum Group founding partner Rea Stark is also co-founder of Piech Automobile with Toni Piech, the son of former Volkswagen Chairman Ferdinand Piech, according to its website.
In a statement, Quantum Group said it wanted to create a luxury multi-brand platform, with Lamborghini “at the heart of the vision to further develop brands into a sustainable future”.
“The intention of the currently valid bid is to transform and strengthen the Lamborghini brand,” Quantum Group said.
“By consistently implementing new clean powertrain technologies and a groundbreaking user experience, Lamborghini would become a spearhead of innovation – consistent with the future needs of customers.”
($1 = 0.8196 euros)
(Reporting by Douglas Busvine; Editing by Elaine Hardcastle and Alexander Smith)
