Login
My Garage
New hero

Volkswagen turns down eye-watering Lamborghini bid

By Tom Gibson | May 29, 2021

Share

Why not leave a comment?

See all | Add a comment

Volkswagen Group has rejected an eye watering offer for its Lamborghini brand.

Volkswagen turns down eye-watering Lamborghini bid

Switzerland’s Quantum Group made an offer of $9.2 billion / €7.5 billion for the iconic Italian carmaker, but this was rejected instantly by VWG with a spokesperson telling America’s CNN; "Lamborghini is not for sale, full stop."

Quantum Group is an investment firm and said in a letter of intent that it planned to retain the brand's existing management, and offered to protect existing jobs for five years. It also said it would create up to 850 new jobs by establishing an "innovation centre" in Germany.

The move is likely to have been orchestrated by Rea Stark, a founding partner of Quantum Group and also a co-founder of Piech Automobile with Toni Piech. That’s relevant as Toni is the son of former Volkswagen Chairman Ferdinand Piech, who oversaw VWG’s purchase of Lamborghini in 1998.

The links don’t stop there, the chairman of Piech Automobile is former Volkswagen CEO Matthias Müller.

We don’t suspect this story ends here… 

Related Articles

Confirmed: UK 2030 ban on petrol cars, hybrid sales allowed until 2035
The UK government has reaffirmed its 2030 ban on new petrol and diesel cars while allowing certain hybrid sales until 2035, with final...
Sep 17, 2024
A 'cushty' bargain: Only Fools and Horses' iconic Reliant Regal three-wheeler expected to sell at auction
Previously sold for £36,000, the guide price this time is significantly lower—less than half the amount from three years ago.
Sep 16, 2024
Young drivers spending up to 10% of income on car insurance
According to Confused.com, the average insurance cost for drivers aged 18 to 21 has risen to £2,350, marking a 17% increase from last year.
Sep 16, 2024
London's streets to go car-free for World Car Free Day
From September 20 to 22, neighbourhoods throughout the capital will host events, and residents can request temporary street closures through...
Sep 16, 2024