Volkswagen Group have reportedly received a letter of intent from a holding company keen to pursue the acquisition of its Automobili Lamborghini supercar brand.

Autocar magazine said in a report published today (May 27) that it has seen the document which details a planned offer of €7.5 billion (£6.49bn) and a plan to upscale production and launch a pure electric performance vehicle by 2025.

The offer is said to come from Quantum Group AG, a Zurich-based holding company formed a consortium with London-based investment firm Centricus Asset Management.

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