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Volkswagen Group's Vision 2030 strategy could bring revolution to the brands

One would expect a corporate plan called "Vision 2030," looking 11 years ahead through wildly tumultuous times, to involve great change and numerous forks in numerous roads. According to Automobile's breakdown of Volkswagen's path forward, though, the plans contain some lurid potential surprises. The ultimate aim is return on investment, and that means ruthless reorganization of a conglomerate with eight primary car brands, two car sub-brands, and Ducati motorcycles. The first two Vision 2030 cornerstones Automobile mentions are near boilerplate: Production network restructuring, and "streamlining of key technologies." The latter two are the ones that could upend what we know as the Volkswagen Group: focusing on the Group's core brands — meaning Audi, Porsche, and VW — and transitioning to EVs, autonomy, and other mobility solutions. Based on the report, a quote from Audi's CTO referring to the Audi brand could cover how the Group plans to handle all of its brands: "We need to find a sustainable solution for the indefinite transition period until EVs eventually take over." The boutique divisions adjacent to carmaking, Ducati and Italdesign, look likely to be spun off. For the halo car brands — Bentley, Bugatti, and Lamborghini — apparently shareholders want double-digit returns on investment, and the trio doesn't have long to hit the target. One eyebrow raiser is when the report states, "Bugatti is tipped to be gifted to [ex-VW Group Chairman] Ferdinand Piech." Piech fathered the Veyron during his tenure at VW, and it was thought he commissioned the La Voiture Noire, but he's lately stepped so far back from VW that he sold all his shares in the Group. Automobile quoted a senior strategist as saying of money-losing Bentley, "Why invest on a backward-looking enterprise when you can support a trendsetter? A proud history and excellent craftmanship alone don't cut it anymore." We guess no one at Ferrari, McLaren, or even Porsche got that memo. Bentley is reportedly close to being put in time out, and if brand CEO Adrian Hallmark can't right the Crewe ship, the hush-hush Plan B is to prop the Flying B up enough to lure a buyer. As for Lamborghini, caught between two masters at Audi and Porsche, even record-breaking numbers at the Italian supercar maker barely staved off sacrilege. It's said that VW brand CEO Herbert Diess considered putting a 5.0-liter Porsche V8 into the Aventador successor.

Rimac inks deal to purchase 55% of Bugatti from VW Group

ZAGREB, Croatia — Croatian electric supercar builder Rimac is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros. Rimac said GermanyÂ’s Volkswagen Group, including the Porsche division — which owns a majority stake in Bugatti — plans to create a new joint venture. The new company will be called Bugatti-Rimac. Rimac Automobili announced Monday that it will be combining forces with Bugatti to “create a new automotive and technological powerhouse.” Rimac has progressed in 10 years from a one-man garage startup to a successful company that produces electric supercars. Mate Rimac, who founded the company in 2009, says the venture is an “exciting moment” and calls the combination of the companies “a perfect match for each other.” Porsche will own 45% of Bugatti-Rimac while Rimac Automobili will hold the remaining 55% stake, according to Croatian media reports. Financial details of the deal were not published. Bugattis will continue to be assembled in eastern France, where the company was established in 1909. The vehicles will use engines developed and made in Croatia. “In an industry evolving at ever-increasing speed, flexibility, innovation and sustainability remain at the very core of RimacÂ’s operations," the company said. “Uniting RimacÂ’s technical expertise and lean operations with BugattiÂ’s 110-year heritage of design and engineering prowess represents a fusion of leading automotive minds." Earnings/Financials Green Bugatti Automakers Porsche Volkswagen Green Automakers Electric Supercars

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.