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Lamborghini implements 4-day workweek for production workers

Wikipedia Lamborghini is planning to implement a four-day workweek for its production workers. The new workweek is a historic industry win; other auto unions have failed to secure the same terms. Other companies that use the four-day workweek have reported high levels of productivity.  On Tuesday, Lamborghini announced a deal with its unions to implement a four-day workweek for car production workers. The unions called the agreement "historical," per Reuters. It is the first agreement of its kind in the European auto industry that reduces working hours without a wage cut — instead, it includes a raise and a one-time bonus of $1,082 in the next month. Overall, the new workweek will mean production workers work up to 31 fewer days a year, according to Road & Track. Lamborghini isn't the only company in Europe to adopt the shortened workweek — others, like the bank Intesa Sanpaolo and eyewear company EssilorLuxottica, have also recently made the change, per Reuters. Companies in Britain that have made the change have reported increased work productivity, better job retention and recruitment rates, and fewer sick days, according to Reuters. Other unions in the auto industry could not get companies like Ford, General Motors, and Stellantis to approve the shortened work hours, per The Street. "Work less and work better, this is the principle that guided this negotiation, and which is part of a comprehensive reasoning," FIOM and FIM-CISL unions said in a statement, per Road & Track. It's been a year of historic developments for the auto industry. In late October, the United Auto Workers strike ended strikes and made tentative agreements with all Big Three Detroit automakers, per previous Business Insider reporting. The deals included 25% raises, cost-of-living adjustments, and more accessible paths to full pay. Plants/Manufacturing UAW/Unions Lamborghini

Lamborghini weighs first factory-backed Le Mans entry

Lamborghini could expand its racing program by competing in the World Endurance Championship (WEC). The Italian company has never been able to justify funding the development of an LMP1-spec prototype from the ground up, but the hypercar category the WEC will launch in 2020 makes competing in high-profile races like the 24 Hours of Le Mans much more affordable. The new class created to pick up where LMP1 will leave off has piqued the interest of Lamborghini boss Stefano Domenicali. He told British magazine Autocar that his team is taking a careful look at the regulations, and company officials will decide whether to go racing by the end of 2019. The hypercar category will replace LMP1 during the 2020/2021 season, and its guidelines call for racers that look like production models. They'll need to weigh under 2,160 pounds, and they'll be allowed to use active aerodynamic technology, which Lamborghini already uses on production models like the Aventador SVJ, the Huracan Performante, and the Huracan Evo. Domenicali hinted a car similar to the one-off, Aventador-based SC18 (pictured) introduced in late 2018 could take Lamborghini racing. It shows the company has "a base for what could be an interesting approach," he told Autocar. Created at the request of a customer, the SC18 delivers 770 horsepower and 531 pound-feet of torque thanks to the Aventador's naturally-aspirated, 6.5-liter V12. If Lamborghini chooses to race, it will need to fend off competition from Aston Martin and Toyota, among others. Aston Martin confirmed it will compete in the hypercar category with an evolution of the 1,160-horsepower Valkyrie, while Toyota is busily transforming the Super Sport concept into a hypercar-spec racer. Unverified reports suggest McLaren and Ferrari could also join the fray sooner or later. While Lamborghini's history isn't rooted in racing, and it has never operated a full, factory-backed WEC program, its cars have competed in the 24 Hours of Le Mans and other endurance events on several occasions. Die-hard fans will remember the Murcielago R-GT that raced at Le Mans between 2006 and 2009. It was more show than go, and it finished near (or at) the bottom of the pack. Auto News Motorsports Lamborghini Le Mans lmp1

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.