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Felicity Ace sinks with thousands of VWs, Porsches, Lamborghinis

The stricken ship Felicity Ace sank overnight after a week of salvage efforts ultimately proved unsuccessful. The ship, which was carrying up to 4,000 VW Group cars, went to the bottom unexpectedly while a salvage team was attempting to tow it to shore, Bloomberg reports.  "Initial reports from the local salvage team state that the vessel had sunk at around 9AM local time having suffered a list to starboard," Mitsui O.S.K. Lines transportation company (MOL), which owns the Felicity Ace, said in a statement released early Tuesday.    "The last vessel position was around 220nm off the Azores," MOL said. "The salvage crafts will remain around the area to monitor the situation. Further information will be provided as it becomes available." The ship sank after being battered by waves and listing 45 degrees to starboard, the ship’s operator said. “The weather was pretty rough out there,” Pat Adamson, a spokesperson for MOL Ship Management (Singapore), a unit of Mitsui OSK Lines Ltd., said by phone. “And then she sank, which was a surprise.” VW, Porsche, Audi, Bentley and Lamborghini-branded models were aboard the ship, which was headed to Rhode Island from GermanyÂ’s Emden port when the fire broke out on Feb. 16.  Rough seas and ongoing fires fueled by the lithium-ion batteries of EVs onboard delayed the ship's salvage and recovery operations for the better part of a week. While the likelihood of salvaging the smoke and potentially fire- and water-damaged vehicles from Felicity Ace's hold was slim to none, some had held out hope that their special-ordered vehicles might survive the mishap.  The Panama-flagged Felicity Ace was safely evacuated of its 22 crew members by the Portuguese navy after a fire started in its hold more than a week ago. The ship can carry up to 4,000 cars. European carmakers declined to discuss how many vehicles and what models were on board, but it appears to have been transporting approximately 2,500 cars, including roughly 1,100 Porsches and an undetermined number of Volkswagens.  The cars aboard were on order. Porsche customers in the United States were being contacted by their dealers, the company said. “We are already working to replace every car affected by this incident and the first new cars will be built soon,” Angus Fitton, vice president of PR at Porsche Cars North America, Inc., told The Associated Press in an email. The ship sank in water nearly 10,000 feet deep, the Portuguese Navy said.

Lamborghini could be sold or spun off from the Volkswagen Group

Volkswagen is reportedly considering a sale or stock listing for its high-end Lamborghini brand. The German automaker is looking to fold the Italian supercar brand into a separate legal entity, reports Bloomberg, which cites "people familiar with the matter" who don't want to be identified "because the deliberations are confidential and no decisions have been made." Any of this sound familiar? The goal of spinning off Lamborghini would be to stockpile more cash and other resources for VW's massive planned push into electric vehicles. Back in March, reports circulated that Volkswagen's "Vision 2030" corporate plan might include plans to focus on the brand's core brands — VW, Audi and Porsche. That means the futures of fringe players like Lamborghini, Bentley, Bugatti, motorcycle brand Ducati and design firm Italdesign (and note this isn't a comprehensive list of brand's under the expansive VW Group umbrella) are up in the air. VW, according to the report, is targeting a market value of $220 billion, which is a big jump from the brand's current $89 billion valuation. Bloomberg pegged Lamborghini's valuation at around $11 billion back in August, buoyed by sales and profits generated by the introduction of the Urus sport utility vehicle. On the flip side, Lamborghini is currently grappling with how best to update its supercar lineup in the face of ever-increasing emissions regulations.

Bentley collectors upset about planned run of 12 continuation cars

Bentley's grandiose plan to recreate one of its oldest and most emblematic race cars has summoned a dark cloud of disapproval from a group of wealthy collectors, including some who own the real thing. Several high-profile enthusiasts, like Ralph Lauren, jointly sent company boss Adrian Hallmark a letter to voice their concerns. The project started in 2019, when Bentley announced it would make 12 replicas of the four 1929 Team Blower models built and raced by Sir Tim Birkin. The dozen racers were spoken for in record time, and owners-to-be are currently working with the company's Mulliner division to configure their car. Bentley isn't the only carmaker dabbling in continuation cars — Jaguar and Aston Martin have notably brought back classics in recent years — but its project is the only one that has generated strong, vocal opposition from the enthusiast community. The recreation cars threaten to "dilute that special admiration and awe that can only come from viewing and embracing the genuine article," according to the letter sent from Hallmark. It was signed by Lord Bamford, Evert Louwman, and William Connor, among other collectors. Simon Kidston, a classic car specialist whose uncle won the 1930 edition of the 24 Hours of Le Mans behind the wheel of a Bentley Speed Six, opined the recreations will devalue the real cars they're modeled after. He also accused Bentley of turning into a poacher. Bentley isn't overly worried about the complaints. "After much research and discussion with a number of the stakeholders (vintage Bentley owners, restorers, specialists, plus a selection Bentley Drivers Club and Benjafield Club members), we tested the idea of making an official Continuation Series based on our plans for a sole recreation, and were overwhelmed with the positivity of the response. While we heard some similar concerns to those expressed in the letter, the vast majority of feedback was hugely supportive of the project," a company spokesperson told Autoblog. The firm added the continuation cars will not be painted in the same color combinations as the four original racers so they'll be instantly recognizable as replicas. Production and deliveries will carry on as planned, then. Related Video: