The Volkswagen Group has hit back at a Bloomberg report suggesting it could sell Lamborghini or take the Italian car manufacturer public.
Over the weekend, Bloomberg asserted that the German automaker was preparing to fold Lamborghini into a separate legal entity that could be sold or listed publicly in a bid to free up resources for the development and mass production of electric cars. It was also claimed that VW wants to increase its focus on its Volkswagen, Porsche and Audi brands.
In a statement issued to Reuters on Sunday, a Volkswagen spokesman denied the report.
“There are no plans for a sale or IPO of Lamborghini. Speculation to this effect is unfounded,” the spokesman said.
Bloomberg claimed that, by streamlining the VW Group, less geographically diversified divisions such as Skoda and Lamborghini could be left in the cold.
While VW has denied the report, that’s not to say it’s impossible that Lamborghini could be sold or spun-off in the future. FCA famously spun-off Ferrari a few years ago and the company’s value has gone on to grow substantially. Lamborghini’s value recently jumped to $11 billion and analysts claim that it is a good candidate for an initial public offering particularly due to its growing sales figures, mainly thanks to the Urus SUV.
Volkswagen chief executive Herbert Diess has previously stated that he wants to see the Group’s value jump from its current $89 billion to no less than $220 billion. Freeing up an asset like Lamborghini would certainly push the conglomerate towards that goal.