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Volkswagen decides to keep Lamborghini and Ducati, transfers Bentley to Audi

Investors in the market for a high-end Italian manufacturer that peddles performance will need to keep looking. Volkswagen announced it will hang on to Lamborghini and Ducati in the foreseeable future. Executives in Wolfsburg, Germany, are making far-reaching changes to the Volkswagen Group to reboot it with a big focus on technology. Credible rumors claimed that the people in charge of the carmaker wanted to carve out Lamborghini — which owns Ducati — and ultimately list it, or at least a chunk of it, on the stock market in order to fast-track the group's electrification strategy. Going electric is expensive, so selling Lamborghini would have helped fund the expansion, and high-octane supercars don't easily go hand-in-hand with zero-emissions cars. "Volkswagen needs to change from a collection of valuable brands and fascinating combustion-engine products that thrill customers with superb engineering to a digital company that reliably operates millions of mobility devices worldwide," summed up Herbert Diess, the group's boss, during a September 2020 meeting. His team ultimately decided not to fully divest both brands. It's too early to tell whether part of Lamborghini will be listed on the stock market, as some insiders have suggested, or if those plans are off the table, too. Changes are coming to Bentley as well. While it's not being spun off either, it will fall under the Audi umbrella starting on March 1, 2021. Volkswagen explained linking the two companies will "allow for synergies to be achieved as part of the electrification strategy of the two premium brands," a statement which suggests they will share a growing number of components during the 2020s. Unverified rumors claim that Bentley will notably get its own version of an ultra-luxurious electric SUV code-named Landjet that Audi is currently developing. We've reached out to Bentley for more details, and we'll update this story if we learn more. Bugatti's future wasn't mentioned in the release; unconfirmed reports suggest it will be traded for a stake in Croatian start-up Rimac. Volkswagen's supervisory board also reaffirmed its support for Diess, who was appointed CEO in 2018 and who has played a significant role in the company's transformation. Finally, the board approved the development of what a statement refers to a future leading electric vehicle sold by the Volkswagen brand that will be developed and manufactured in Wolfsburg.

Audi's CEO might not have known of VW emissions scheme

There's been no shortage of finger-pointing when it comes to finding people to blame for the Volkswagen diesel-emissions scandal that broke last September. One rather powerful executive, however, appears to have escaped blame. That would be Audi CEO Rupert Stadler, whose company sold about 85,000 diesel vehicles with emissions-cheating software, Reuters says, citing people familiar with the process. US law firm Jones Day questioned executives at both VW and its Audi unit and has found no evidence that Stadler was complicit with the plan, which involved programming Volkswagen-made diesel engines to produce artificially low emissions when the vehicle was being smog-tested. In Audi's case, the engine type in question was the 3.0-liter V6 diesel. Officials with both VW and its Audi unit declined to comment, according to Reuters. That engine was used for the Audi A6, A7, A8, Q5, and Q7 since the 2009 model year, in addition to the VW Touareg and Porsche Cayenne. Audi also sold the VW Group 2.0-liter four-cylinder in the A3 from 2010 to 2013 and 2015. VW has reached an agreement with US regulators concerning that engine, which is also not connected to Stadler. Last month, German newspaper Bild am Sonntag published specifics on how the 3.0-liter diesel cheated the emissions-testing process, including records that the motor was programmed to shut of its emissions-control equipment after 22 minutes of running, or about two minutes longer than typical emissions-compliance testing. Audi said last November that it would work on a software update for the V6's emissions-control system that would be submitted to both the California Air Resources Board (CARB) and the Environmental Protection Agency (EPA), but the VW unit hasn't reached any settlement with US regulators implying that a solution was agreed upon. Volkswagen's settlement with the EPA will cost Europe's largest automaker as much as $15 billion in the form of buybacks, lease buyouts, vehicle repairs, and investments in zero-emissions technology. VW sold about a half-million vehicles in the US that contained the so-called "cheat" software. Related Video: News Source: Reuters Government/Legal Green Audi Volkswagen Diesel Vehicles vw diesel scandal scandal Rupert Stadler

Suzuki and VW finalize their divorce

The rocky divorce between Suzuki and Volkswagen is finally over after working its way through the International Court of Arbitration since 2011, according to the Japan Times. In the final settlement to end the companies' disputes, Suzuki agreed to pay VW an undisclosed amount for not living up to the agreement to use the German automaker's diesel engines. While they won't disclose the exact sum, Suzuki said in a statement that the money "will not have any significant impact" on its 2015 fiscal year results, which will end in March. The arbitration court took the biggest step to end this transcontinental partnership in August 2015 when the body ruled VW needed sell its 19.9-percent stake in Suzuki. However, the Japanese company wasn't entirely off the hook because VW was still allowed to sue for damages over the diesel engine issue. This latest decision finally clears up that dispute. Like most marriages, the union between VW and Suzuki began with stars in both parties' eyes. The Germans paid $2.8 billion to buy 19.9 percent of the Japanese company in December 2009. VW was supposed to get greater access to the auto market in India, and Suzuki hoped to capitalize on access to its partner's advanced technology. By 2011, rumors started percolating that things were contentious behind closed doors. VW allegedly tried to assert control over Suzuki's operations, and the Japanese company reportedly wasn't happy with its access to the German tech. Suzuki even bought diesel engines from Fiat, rather than VW. Later that year, company CEO Osamu Suzuki announced he would end the alliance, and they started working through arbitration. Notification Concerning Resolution of Arbitration by Settlement As Suzuki has reached a settlement regarding the arbitration that Suzuki filed with the International Court of Arbitration of the International Chamber of Commerce on 24 November 2011, Suzuki informs you of the following: 1. History from the Request for Arbitration to the Settlement As announced in the "Notification Concerning Arbitration Award" dated 30 August 2015, the Tribunal indicated that it would address the issue of alleged damages arising from Suzuki's breach of the agreement claimed by Volkswagen AG ("VW") in a further stage of the arbitration proceedings. Suzuki reached a settlement with VW in regard to such arbitration proceedings on 10 February 2016. Accordingly, the arbitration proceedings have been concluded. 2.