Audi chief executive Rupert Stadler has revealed that the company has abandoned its plans to sell Italian motorcycle brand Ducati.
The automaker had planned to sell Ducati in order to free up cash but speaking with Reuters recently, Stadler revealed that Audi’s closer relationship to Porsche and steps to reduce costs by roughly $11.8 billion will allow it to retain ownership of the motorcycle brand.
“I can assure you that Ducati belongs to the Audi family. Ducati is the perfect implementation of our premium philosophy in the world of motorbikes,” Stadler said, defiantly.
Audi purchased Ducati in 2012 and as recently as May this year, there were reportedly four companies looking to make bids at purchasing the brand. However, confirmation from Stadler that no sale is on the cards ends almost two years of rampant rumors suggesting such.
Stadler added that the costs of Audi shifting towards zero-emissions makes it vitally important to retain ownership of Ducati and Lamborghini, two companies that are profitable.
“Looking after a premium bouquet is as difficult as the work of a gardener. Therefore I am pleased with every new flower, with every promising new branch,” Stadler said.
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