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Quantum Group pitches Lamborghini bid to Volkswagen

Quantum Group pitches Lamborghini bid to Volkswagen

The Lamborghini Huracan Evo Spyder is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland, on Mar 5, 2019. (Photo: REUTERS/Pierre Albouy)

BERLIN: 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 (US$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."

Source: Reuters

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