Volkswagen Group will retain Lamborghini and Ducati

The Volkswagen Group owns a number of very well known brands, including Lamborghini, Ducati, and Bugatti. For a while, Volkswagen was considering spinning off some of those brands, but that won't happen for at least two. Italian motorcycle manufacturer Ducati and Italian supercar manufacturer Lamborghini have been confirmed to be staying within the Volkswagen Group.

Bugatti's future is unknown at this time. The Volkswagen Group also confirmed that Bentley would be placed under the control of Audi. Bentley and Audi will share electric vehicle technology in the future. Audi, like most more mainstream automakers, is betting big on electrification for the future.

Electrification will find its way into both performance cars and luxury vehicles. Bentley is one of the biggest names in hyper-luxury vehicles, and its buyers will appreciate electrification. Details of Volkswagen's plans came via a statement from the automaker's supervisory board on Monday. While the plan came from Volkswagen Group CEO Herbert Diess, he needed the backing of the supervisory board to carry out the plan.

The report indicates the board members voted unanimously to give support to the strategy laid out by Diess. The board reportedly particularly supported the company's move towards electrification and digitalization. Other details that came out of the meeting include getting the supervisory board's approval for the CFO candidate Diess wanted.

VW has promised to cut overhead costs by five percent and procurement costs by seven percent in the next two years. As for a potential fate for Bugatti, past reports have indicated that Volkswagen is in talks with electric car maker Rimac on a purchase. As for Audi electrified technology that could end up with Bentley, reports indicate that the Artemis technology project currently working on a successor for the A8 could also result in a fully electric car for Bentley