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Audi reportedly shoots down $9.2 billion investor bid for Lamborghini

Volkswagen is open to divesting some of the brands in its portfolio, but it hasn't put a "for sale" sign on in front of Lamborghini's lawn yet. The firm allegedly shot down a big offer for the brand from a group of investors. Quantum Group SA, a newly-established holding company based in Zurich, Switzerland, made the non-binding offer in May 2021, according to anonymous sources who spoke to WardsAuto. The publication adds the group is ready to spend 7.5 billion euros (around $9.2 billion at the current conversion rate) to buy the entire Lamborghini division from Audi. The sale would include the brand, its intellectual property (like its trademarks and patents), its historic factory in Sant'Agata Bolognese, and its racing division. Full details about the proposed acquisition were closely examined by top Volkswagen executives, including company CEO Herbert Diess and Audi boss Markus Duesmann. While the offer sounds like it's neatly packaged, Volkswagen replied that it's not having a garage sale. "Lamborghini is not for sale. This is not the subject of any discussion within the group," a company spokesperson told industry trade journal Automotive News. These comments are in line with the ones made in December 2020. Quantum's aim wasn't to sever all ties with Volkswagen. It planned to turn Lamborghini into "a spearhead for innovation by consistently implementing new clean drivetrain technologies" across the range, a strategy that's already in the pipeline; Lamborghini announced it will electrify in the 2020s and launch its first series-produced EV. Investors also hoped to sign a five-year supply agreement with Audi, and to create what they called an Advanced Automotive Innovation Center headquartered somewhere in Lower Saxony, the German state Wolfsburg is in. In late 2020, when rumors about an imminent Lamborghini spin-off were rampant, Volkswagen stressed it had no plans to sell the Italian supercar manufacturer or to find a new home for Ducati, which Lamborghini owns. Unverified reports claim a chunk of the company could be listed on the stock market in a bid to raise revenue, however. Bugatti is another part of the Volkswagen empire that Diess and his team allegedly wanted to trade in to fund the group's pivot towards electric powertrains. In September 2020, reports claimed top executives had approved swapping the storied French carmaker and its assets for a significant stake in Croatia-based Rimac that would be transferred directly to Porsche.

Lamborghini Huracan gets sharp new factory appearance kits

If you, typical Lamborghini Huracan owner, aren't satisfied enough with the stock appearance of your $240,000 Italian sports car - and you know you aren't - the company has a solution. Rather than getting a tasteless gold-finish wrap or a set of oversized and overwrought Forgiato wheels, stick with factory-backed products. Lamborghini now offers three "After Sales" kits that add stripes, wings, and new wheels, all without voiding the warranty. Not that we'd know for sure, but it must be hard owning a Lamborghini. Especially when friends in Ferraris call it an overpriced Audi R8 (don't listen to them). Ordering one of Lamborghini's new kits is a surefire way to both set yourself apart and show you only trust high-quality, lightweight composite factory pieces like the matte black front splitter, side skirts, rear diffuser, and fixed rear wing. For you, Liberty Walk will not do. In addition to all of the aero bits, Lamborghini offers an appearance package that adds two body-length stripes to the car, all without harming your Verde Mantis paint. While stripes and aero are fine, if you really want to impress your friends, you must opt for the center-locking wheel kit that replaces the plebeian five-lug hub. This racing-inspired option comes with Super Trofeo inspired black wheels, and you won't even need a new set of tires. Price? Well, you know what they say about asking. Related Video: Featured Gallery Lamborghini Huracan After Sales Kit News Source: Lamborghini Design/Style Lamborghini Supercars

Florida Man accused of buying Lamborghini with coronavirus relief funds

We'll preface this by saying that when things work as they're meant to, we don't hear about them. When it comes to the Paycheck Protection Program, created as part of the CARES Act in March to provide loans to businesses to pay employees during the coronavirus lockdown, that means many jobs were saved but we also get stories of honest businesspeople unable to get loans or blackguards abusing the program. This story is the latter. David T. Hines, a 29-year-old Miami man with four businesses, applied for PPP funds in May. He received about $3.9 million in loans, and blew about $500,000 of that before the government began investigating and his bank froze his accounts. Instead of applying for loans to cover monthly expenditures of about $200,000 among his four moving-related companies, the feds say, Hines' four applications through Bank of America claimed combined monthly expenses of $4 million to pay 70 employees. BofA approved three of the four submissions. After the government made its first of three planned deposits of $3,984,557 into Hines' Bank of America account, Hines continued requesting more money, authorities say, ultimately seeking $13.54 million.  The spending began almost immediately after the PPP disbursement. As far as the government could tell by going through Hines' records, none of the money was spent on employees who "either did not exist or earned a fraction of what Hines claimed in his PPP applications.” Instead, officials say, Hines picked up a blue Lamborghini Huracan Evo for $318,497. He paid a person he listed as "Mom" $60,000. Saks Fifth Avenue got another $4,000. In June, $8,500 went to the Graff jewelry boutique, and $7,000 went to Miami's Setai hotel. The disbursement problem has arisen because the Small Business Administration that backs the PPP loans doesn't verify the claims in the applications, according to Assistant U.S. Attorney Michael Berger. How did Hines get caught, then? He got into a hit-and-run accident in his blue Lamborghini in July, and Miami police impounded the car. That eventually attracted investigation from no less than six governmental departments: the FDIC-OIG, USPIS, IRS-CI, the SBA-OIG, the Board of Governors of the Federal Reserve System, and the Bureau of Consumer Financial Protection-OIG. The U.S.