Volkswagen Group is denying reports it plans to sell or spin off Lamborghini into its own company. The denial comes after reports surfaced over the weekend suggesting the German automaker was making moves to craft Lamborghini into its own legal entity.
Bloomberg first broke the news over the weekend, reporting that VW was planning to either sell the Lamborghini brand or conduct an initial public offering and take Lamborghini public. The report claims VW is wanting to off-load Lamborghini in an effort to raise cash to invest in electric vehicles. The company also wants to double-down its focus on the Volkswagen, Audi and Porsche brands.
Despite the report, Volkswagen has denied the report in fairly direct terms.
“There are no plans for a sale or IPO of Lamborghini. Speculation to this effect is unfounded,” a VW spokesperson said in a statement to Reuters.
It’s worth mentioning that it is unlikely VW would publicly admit to a pending IPO, even if they are planning one. The plausibility of a Lamborghini IPO is certainly there. The brand was recently valued at about $11 billion, making it a ripe IPO candidate. Analysts also believe there’s a lot of upside in Lamborghini, largely thanks to sales of the Urus SUV.
This wouldn’t be the first time a supercar brand has gone public. Fiat Chrysler took Ferrari public back in 2015 and its value has only increased since.