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Lamborghini News
News:
The shareholders of Automobili Lamborghini SpA and AUDI AG have signed a
Letter of Intent today to enter into negotiations for the acquisition of the Italian
sports car company by AUDI AG. Details of the negotiations will be worked out in
the next few weeks.
AUDI AG is a leading edge provider of high value automobiles. The company
produces both in Germany and abroad including Hungary, Chino, Malaysia and
South Africa. In 1997 delivered around 546,000 cars to customers and the sales
turnover was more than DM 22 billion. Overall Audi employs a workforce of over
38,000.
Lamborghini is a world famous car producer which has developed innovative and
prestigious products such as the Miura, Espada, Countach and the current Diablo. The
company is celebrating its 35th anniversary this year. It was bought from Chrysler
in 1994 by two investors:: the Malaysian Mycom and the Indonesian V'Power. After
a substantial turnaround, Lamborghini is now developing two completely new
supercars: the project 147, nicknamed "Super Diablo" that will be an extreme car on
top of the existing Diablo product line, and the project 140, nicknamed "Baby
Diablo" that will be a super car in the USD, 100,000 price range, both addressed to
two new segments of the market.
The two new models will create greater revenues for Automobili Lamborghini SpA
and, herald a new era for the house of the bull. Under the leadership of Vittorio Di
Capua, plans are underway to turn Lamborghini into a fully integrated sport and
racing car company, a target for the new millenium.
Lamborghini is entering the new millenium with a complete product line for
super car enthusiasts and the racing fans.
(Reported in AutoWeek on 6/22/98)
Powered by Audi? Volkswagen will pay about $I00 million to
buy Lamborghini. The sellers are Mycom of Malaysia (40 percent) and
Indonesia's ex-first family member Tommy Suharto (60 percent). Audi thus
becomes the seventh owner of Lamborghini in 35 years. And the $100 million
is just a start: YW expects to invest even more than that to rebuild Lamborghini.
Why? Lamborghini ownership will advance Piech's plans to make Audi
his own personal BMW and possibly go Formula One racing. More Immediately,
Audi can stuff the five-valve V8 from the A8 into a Baby Diablo, the
Project 140 and apply badges to the car that read "powered by Audi." for a rapid Image
boost.
Lamborghini needed $45 million to build the new Diablo, and that didn't
include the money to buy V8s from Audi. Piech apparently became interested
in Lambo when he learned of the investors inability or unwillingness to pay
for the engines. Audi says the car will sell for about $100,000 In the States.
Meanwhile. Lambo's Project 147, the Super Diablo, Is near production
in even, respect except the engine, which was supposed to be a V-IO. VW's
W12 or something from Cosworth may fit nicely.
What can Audi do that farm-tractor manufacturer Ferruccio Lamborghini
and five other owners, including Chrysler Corp, could not? VW has the engineering
resources, and even after its spending spree, still enough cash to pour
into the company. Piech now has the stable to challenge the world's most
prestigious automakers.
Following up the Letter of Intent dating from June 12 on the take-over of the Italian
sports car manufacturer Automobili Lamborghini S.p.A.,based in Sant' Agata
Bologneese, AUDI AG and the current proprietors, the Malaysian holding
company Mycom Setdco and the Indonesian company V'Power Corporation,
now signed the contract of sale in London.
"Lamborghini symbolizes superlative standards of sporting performance"
remarked Dr. Franz-Josef Paefgen, Chairman of the Board of Management of
AUDI AG, on the occasion of the take-over. This acquisition means that Audi
will in future also be represented in the super sports car segment. It will
nevertheless strive to preserve Lamborghini's specific national identity.
Lamborghini currently manufactures various versions of the Diablo with V12
engine, and also builds engines for power boats competing in the Class 1 off-
shore championship. Around 310 people are currently employed by Lamborghini.
Since start of production in 1963, it has built more than 8,000 sports cars. In
1997, Lamborghini supplied 209 vehicles to customers world-wide. It recorded
sales revenue of LIT 74 billion and a profit of LIT 232 million.
AUDI AG is a leading edge provider of high value automobiles. The company
produces both in Germany and abroad including Hungary, Chino, Malaysia and
South Africa. In 1997 delivered around 546,000 cars to customers and the sales
turnover was more than DM 22 billion. Overall Audi employs a workforce of over
38,000.
Dear Friend,
Following up the letter of Intent dating from June 12 today has been signed in
London the contract of sale of 100% of Automobili Lamborghini s.p.a. to Audi AG.
Victorio Di Capua, President and CEO of Lamborghini, has expressed his deep
satisfaction for this deal, an important step to open wide development perspective to
Lamborghini.
The employee's and the unions have received the information with satisfaction because
they see AUDI as a shareholder with a very good reputation, world wide, for
technological competence and for the quality of the cars that will consolidate and improve
the traditional excellence of Lamborghini in the market of supercars.
National and local authorities have shown their appreciation for the effort made by
Vittorio Di Capua in finding a solution that will grant continuity to a prestige
company and have very appreciated the willingness of AUDI to preserve
Lamborghini's specific national identity.
Sant'Agata Bolognese, 24.7.1998
International news brings us this tidbit. As of last August some 62
Diablo Roadsters ($275,000) had been sold out of an allocation of
70. By now I'm sure they are sold out for 1997 models. The
allocation has been set for 90 cars in 1998. A spokesman for
Lamborghini USA said the company is developing two new cars.
An entry level car called the Torello powered by a 400bhp V-10.
The second is a Super Diablo also known as Canto with 600bhp!
There is also the possibility or a future 4 door sedan.
By Henny Hemmes
Just two years ago, the future of Automobili Lamborghini looked very dim. In 1987, Chrysler came to the rescue of the sports-car manufacturer and even approved the development of a Formula One engine. But that project crashed in the not so bright beginning of the '90s, and Chrysler was glad to sell its shares to MegaTech, an Asian joint venture.
With that in mind, you will not be surprised when you enter the lobby of the Lamborghini works and notice a portrait on the wall of the son of the president of Indonesia. His company, V'Power, has a majority stake of 60 percent in Lamborghini. The other 40 percent is owned by Mycom of Malaysia. An interesting detail: V'Power has a close relationship in Indonesia with the Korean car manufacturer Kia.
The new owners are investing $175 million for the development of future Lambos—such as the succcessor of the Diablo, which is growing up in the factory under the code name L147, or the replacement for the ugly but fast all-wheel-drive SUV. And there are also plans for a "baby" Diable with a V10 mid-engine.
A pure sports car
Since its introduction in 1990, more than 1,500 Diablos were built. For the past three years, the Diablo has been the only representative of the make with the raging bull, and last year Lamborghini extended the model range with the 4WD Roadster and the Diablo SV, for "Sport Veloce." Back in 1971, Lamborghini was already using the SV designation for its fastest model, the Miura P400.
The launch of the Diablo SV was accompanied by the birth of a complete race class for Diablos. For that purposose, Lamborghini built 30 SVs in race trim and named them SVR. After a successful season in Europe, Lambo started a similar race class in the United States.
The SV is a version for which the term "back to basics" applies. Back to an original and bare interior, without, for instance, power windows, but with extra horsepower and torque, providing additional driving fun. For the SV, the original Diablo VT was put on a diet to get rid of approximately 115 pounds. The engineers changed the valve timing of the mighty 48-valve V12 engine, resulting in 510 horsepower, 18 hp more than the engine in the roadster. The SV also got a new, stiffer suspension, larger air ducts for the brakes, an aggressive-looking front spoiler, a hood with two air ducts and an adjustable rear spoiler. So, a pure sports car was born.
And I was ready to drive. Who can think of a better place than the Autodromo Enzo e Dino Ferrari—also known as Imola—to test a supercar like the Diablo SV? And what would be more fun than to let the car taste the legendary Tamburello corner, the fast Villeneuve bend or Acque Minerali?
Way too fast
First I drive the stunning-looking car through its tiny hometown of Sant'Agata in northern Italy, across the meadows up to the motorway entrance near Bologna.
The clutch feels heavy, and shifting the close-ratio five-speed gearbox goes heavy, too. But the engine runs nicely at lower revs, and the car doesn't feel out of place in daily traffic. That's because at 4,000 rpm, the most of its maximum torque is available.
On the Autostrada, the Italian motorists admire "my" car, trying to keep up with the Diablo so they can gaze for as long as possible at the extreme design.
When the Imola race track opens its gates, the real work can begin. The devilish character of the Diablo can be experienced without restrictions. At the end of the straight, I drive 150 mph and brake for the tight righthand corner where you cannot exceed 75 mph. And then I storm uphill again. Push the throttle one tiny bit of an inch too far, and you experience old-fashioned oversteer. The tail wants to start racing on its own. That is what goes with true engine power combined with rear-wheel drive. From the outside, it looks sensational, and from behind the wheel, you have a special feeling, one of the everlasting challenge not to exceed the limits of the car.
This Diablo may be rough, but it isn't brutal. On the track, the clutch feels okay and shifting is effortless.
As always, nice things don't last long, and the Diablo and I have to quit our exercise and go home to the Lambo works. Cruising the motorway way too fast, I pass a dark blue police car. But, as do all Italians, the Carabinieri also like to see exotic cars speeding by...
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