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Volkswagen may 'carve out' Lamborghini to list on the stock exchange

FRANKFURT — Volkswagen is drawing up plans to set up Lamborghini as a more independent unit, and is discussing long-term supply deals that could make it easier to list it on the stock exchange, two sources familiar with the matter told Reuters. "Volkswagen is in the process of carving out Lamborghini, and to organize future supply and technology transfer deals," one of the sources familiar with the matter told Reuters. The Italian sportscar brand, which is currently a division of Audi, could be partially listed, with Volkswagen retaining a controlling stake, the first person familiar with the talks said. There is no formal decision to divest Lamborghini, a second source said, adding that the timetable of any deal remained unclear. "This is a first step which gives VW the option to list the unit further down the line," the second source told Reuters. A third source familiar with the discussions said the future of Bugatti, Lamborghini and Ducati was discussed during a supervisory board meeting last Friday. The possibilities for how to electrify the Lamborghini and Bugatti brands through partnerships and investors was discussed, the third source said. Bankers and potential cornerstone investors in an IPO have been approached by the carmaker, the sources said. Volkswagen declined to comment. Volkswagen Group's Chief Executive Herbert Diess on Wednesday said the carmaker will announce "important steps" about the company's future before the close of the year. Volkswagen is reviewing what role its high-performance brands Lamborghini, Bugatti and Ducati will play within the multi-brand carmaker as part of broader quest for more economies of scale, senior executives told Reuters. A global clampdown on combustion-engined vehicles has forced carmakers to accelerate development of low-emission technology for mainstream models, leaving Volkswagen managers struggling to find resources to electrify low volume sportscar models. Related Video:

11M VW diesels affected, Porsche and Audi under investigation

Volkswagen's diesel scandal is growing exponentially larger. In a new statement, the company admits that 11 million vehicles worldwide might be equipped with software capable of evading emissions testing. In addition, the Environmental Protection Agency is beginning an investigation into the 3.0-liter V6 in Audi models and the Porsche Cayenne in the US, according to The Detroit News. The automaker claims that from its investigation so far, the "relevant engine management software is also installed in other Volkswagen Group vehicles with diesel engines." However, the company finds that the "noticeable deviation" in test results and real-world numbers only relates to the Type EA 189 powerplant. That still leaves 11 million vehicles potentially skirting emissions rules, though. Governments around the world have started taking a closer look into the company, too. In the US, the EPA has begun testing VW's V6 diesel because "they were certified well before we knew what we know now," Christopher Grundler, director of the EPA's Office of Transportation and Air Quality, said to The Detroit News. The agency has started checking diesels from other automakers to make sure they're meeting the rules, as well. Germany, the European Union, and South Korea have instituted similar investigations. In response, VW is setting aside 6.5 billion euros ($7.25 billion at current rates) to cover servicing all of these diesels. The company admits that the figure might have to be adjusted depending on what happens next. The money is being deducted from its third-quarter earnings. Related Video: VOLKSWAGEN AG HAS ISSUED THE FOLLOWING STATEMENT: Sep 22, 2015 Volkswagen is working at full speed to clarify irregularities concerning a particular software used in diesel engines. New vehicles from the Volkswagen Group with EU 6 diesel engines currently available in the European Union comply with legal requirements and environmental standards. The software in question does not affect handling, consumption or emissions. This gives clarity to customers and dealers. Further internal investigations conducted to date have established that the relevant engine management software is also installed in other Volkswagen Group vehicles with diesel engines. For the majority of these engines the software does not have any effect. Discrepancies relate to vehicles with Type EA 189 engines, involving some eleven million vehicles worldwide.

2017 Audi A4 Deep Dive

Unchanged. Plain. Boring. These words have been used to describe the new 2017 Audi A4, but they all miss the point entirely. Yes, the design of the new A4 is evolutionary, rather than a ground-up restyling. But as they say in ancient High German, "If it ain't broke, don't fix it." Of course, if you're at all interested in the 2017 Audi A4, you've probably read all about it in the official press release a few days ago. So we'll cut to the chase and tell you the bits you don't already know: the American-market details. We spent a day at Audi headquarters in Ingolstadt last week finding out the latest and poking around the A4 in the metal. The new A4 is wider, longer, and roomier than before. The lines are crisper and sharper, but yes, the proportions have remained very similar. That was done on purpose, thoughtfully. Not out of laziness. Stand any two sequential generations of Porsche 911 next to each other and you'll find they are rather similar. And yes, people do complain about that. But they also complain about the property tax rate on their third home in Monaco. That familiar-looking body gets a shockingly low coefficient of drag of just 0.23. The improvements in drag come from fine-tuning details down to the placement of the side mirror (now on the door, rather than the triangular window panel) and the contouring of the inner edge of the side mirror, which gets little vortex generating bumps to improve the turbulent airflow in that area, reducing drag. Attention to detail and refinement of a successful design – not boring, lazy repetition. Another notable departure in the styling of the new A4 is equally subtle, but even more significant from a precision manufacturing perspective: the hood has no cut lines on its upper surface. Instead, the hood now wraps around the tops of the fenders, the cut line integrating with the sharp crease that runs down the entire body side. The creation of this cut line requires extremely tight manufacturing tolerances to enable the precise alignment of the hood and fender gap with the stamped-in crease in the door panel; misalignment would be obvious and catastrophic to the clean, simple design's flow. Now, let's rip off this Band-Aid: no, we won't be getting the Avant. Why? Because no one buys it, vociferous vocalizations on the Internet aside.