Lamborghini bidder Quantum makes innovation pitch to Volkswagen

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FILE PHOTO: The Lamborghini Huracan Evo Spyder on display at the 89th Geneva International Motor Show
FILE PHOTO: The Lamborghini Huracan Evo Spyder is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File Photo

May 26, 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)