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May 26, 2021 01:28 PM

Lamborghini bidder Quantum makes innovation pitch to VW

Investor wants to create a luxury multi-brand platform, with Lamborghini 'at the heart'

Reuters
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    Piech Mark Zero

    Quantum Group founding partner Rea Stark is also co-founder of Piech Automobile, which unveiled the Mark Zero electric coupe concept, shown, at the 2019 Geneva auto show.

    BERLIN -- Swiss-based Quantum Group said its bid for Volkswagen Group'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."

    VW 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.

    Related Article
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    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," it said.

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