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Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

2015 Audi A3 Sedan priced from $29,900* [w/video]

One year after the all-new Audi A3 bowed in Europe, the US finally will get the 2015 A3 sedan in 2014, and the German automaker announced yesterday that it's priced from $29,900 (*not including destination, and we've reached out to Audi asking for the price of delivery). A bit later in 2014, the A3 Cabriolet will be released along with the S3 sedan. The A3 Sportback will be a 2015 model, though it will only be offered as a gasoline-electric hybrid. Prices weren't given for those models and, sadly, the three-door hatch isn't slated for US consumption.
The A3 sedan will be offered with three engine choices, all of them featuring direct-injection, turbocharging and four cylinders: a 1.8-liter TFSI, 2.0-liter TFSI and 2.0-liter TDI - that last one's a diesel. If you count the S3 sedan, that's another engine in the lineup - a 296-horsepower version of the 2.0 TFSI.
As we were told at the 2014 A3's "unofficial" world debut in New York City earlier this year, Audi says US customers won't get the option of a six-speed manual transmission, as the Europeans do. All engines will be mated exclusively to a six-speed dual-clutch transmission.

Audi eyes factory-backed Formula E racecar for 2017/2018 season

Audi is going all-in into the world of electric vehicles, both on and off the race track. After announcing plans to create a Tesla-fighting all-electric car, the German automaker set its sights onto increasing its involvement in Formula E. Audi recently announced plans to further its involvement with the ABT Schaeffler Audi Sport Formula E Team for the 2016 and 2017 season. In addition to furthering its involvement with the ABT Team, the automaker planned to introduce its own factory-backed car for the 2017 and 2018 season. The plan to enter Formula E, the first fully-electric racing series, reveals just how serious Audi is about electric cars. Audi to become involved in #FormulaE #LeagueofPerformance pic.twitter.com/AeJf534UnH — Audi Sport (@audisport) September 2, 2016 Last year, Audi announced that it wanted one out of every four vehicles in its lineup to have a plug by 2025. Entering Formula E would help Audi engineer electric components for its road-going vehicles. Audi's current involvement with the ABT Team is on a technical basis as the Formula E team narrowly missed out on titles in two seasons in the all-electric series. For the 2016/2017 season, Team ABT will benefit from technical and financial input from Audi, before the automaker unveils its own factory team. Audi will join other automakers like Jaguar, Mahindra, Renault, and Faraday Future on the grid in Formula E's fourth season. Jaguar recently entered the Formula E scene with a race car of its own for the third season of the all-electric series, which will start on October 9 in Hong Kong. Related Video: News Source: Formula EImage Credit: Daniel Abt / Twitter Green Motorsports Audi Electric Racing Vehicles Special and Limited Editions Performance Formula E abt