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

Survey reveals only 3% of EV owners would switch back to petrol or diesel
A survey of EV owners reveals high satisfaction with electric vehicles, driven by cost savings, performance, and environmental benefits
Dec 06, 2024
One in four new cars sold in November was electric
EV sales surge in November, but are manufacturers ready for next year’s tougher targets?
Dec 06, 2024
Mercedes-Benz's solar paint could power your EV for 12,000km
Discover how Mercedes-Benz is revolutionising EV technology with sustainable solar paint
Dec 05, 2024
Drivers gear up for the lowest Christmas fuel prices since the pandemic
Fuel costs are at their lowest in years, making holiday travel more affordable than ever
Dec 05, 2024