FRANKFURT:  Volkswagen has received a €7.5 billion offer (RM38bil) for Lamborghini, Autocar reported today, though VW's Audi said the supercar brand was not for sale.

The non-binding offer sets out terms for the purchase of Automobili Lamborghini by Switzerland's Quantum Group AG, which has formed a consortium with London-based investment firm Centricus Asset Management, Autocar reported.

The report, citing offer documents, also said that the consortium would include job assurances for existing Lamborghini employees for up to five years and the creation of 850 new jobs.

Volkswagen confirmed that there was agreement in the group that Lamborghini, which has been named repeatedly as a possible divestment candidate, will remain part of Volkswagen.

Asked to comment on the Autocar report, a spokesman for Volkswagen unit Audi, which is in charge of Lamborghini, said: "This is not the subject of any discussion within the group. No, Lamborghini is not for sale."

Representatives of Centricus and Quantum Group were not immediately available for comment.

Sources said in October that Volkswagen had drawn up plans to carve out Lamborghini to make it a more independent business within its stable of car brands and facilitate a potential initial public offering (IPO) at a later stage.