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VW CFO Hans Dieter Potsch nominated as new board chairman

The search for a successor to Ferdinand Piech has come to an end as the Volkswagen Group has nominated a new chairman. The Executive and Nomination committees of VW's Supervisory Board have put their weight behind one Hans Dieter Potsch, who currently serves on the company's management board as its chief financial officer. He's expected to continue in his current role until November when an extraordinary general meeting of the supervisory board can be called to confirm his nomination and a replacement CFO can be found to take his place. As you may recall, the chairmanship of the Volkswagen board fell until recently to Ferdinand Piech, grandson of Ferdinand Porsche and one of the principals of the Porsche family that holds over 50 percent ownership in Volkswagen through Porsche Automobil Holding SE. Piech went head to head with VW CEO Martin Winterkorn and ultimately lost. Piech resigned and Winterkorn is about to have his term as chief executive extended through the end of 2018. In Piech's place, former union head Berthold Huber was named as interim chairman, but is now referred to in the statement below once again as deputy chairman instead. An Austrian native, Potsch is an industrial engineer by training. He started his career at BMW where he ultimately served as group controller, and subsequently served as CFO and as chairman at a number of German corporations. Potsch joined the VW management board in 2003, initially without portfolio, and soon assumed the financial portfolio – a role he has held until now. In 2009 he took on the additional role of chief financial officer at the Porsche holding company, whose supervisory board representatives are the parties proposing Potsch's nomination as the group's new chairman – even though he is not, strictly speaking, one of their own. In a related development, it appears that Julia Kuhn-Piech will be leaving her board seat sooner than expected. The departing chairman Ferdinand Piech opposed his niece's nomination to the board in his place, and now she'll apparently be stepping down to make way for the family's new choice of chairman.

Pininfarina teases its Tesla- and Bugatti-baiting EV supercar

Pininfarina isn't being bashful when it comes to getting into the car business. The Italian design house has revealed a sketch of the PF0 Concept, an electric supercar aimed directly at the world's fastest and most expensive vehicles. With upward of 1,000 horsepower, along with an expected price in the millions of dollars, this extreme EV is meant as a calling card for Pininfarina's upcoming range of electric cars and SUVs. So should the likes of Tesla, Porsche, Ferrari, Bugatti and Lamborghini be worried? Pininfarina might be new to building its own cars, but the company has many decades of experience designing and engineering some of the most desirable cars of all time — including many of the finest supercars to have worn a Ferrari badge on their nose. As we reported earlier this year, Pininfarina has teamed with Indian auto manufacturer, Mahindra, to develop a range of high-end EVs. With this roughly $500 million investment, not to mention some engineering help from Croatian supercar manufacturer, Rimac, Pininfarina aims to start high. The company will first introduce a hypercar, based on the PF0 Concept, within two years, then bring along a range of more affordable electric cars and SUVs. These will more directly take on the likes of Porsche Cayenne, Lamborghini Urus, and Tesla Model X. So yes, if you're in the business of building expensive cars, especially ones with a lot of batteries positioned inside them, Pininfarina's plans for the PF0 (that's a zero, not the letter "O," by the way) should make you sit up and take notice. "Automobili Pininfarina is a pioneering new business created to service the most discerning clients in the world," said Michael Perschke, CEO for Automobili Pininfarina. "Our product portfolio will launch with an innovative, zero-emissions hypercar that represents the progression we aim to make at the pinnacle of the luxury and sports car market." According to its press release, Pininfarina is currently presenting its "business and product plans to prospective retailer partners, clients and media in New York this week." After its tour of the Big Apple, look for Pininfarina to officially reveal the PF0 Concept during Monterey Car Week in August. Related Video: Design/Style Green Bugatti Lamborghini Porsche Tesla Electric Future Vehicles Luxury Performance Pebble Beach supercar mahindra hypercar Rimac

Eight things we learned about the 2017 Porsche Panamera

We just spent two days in Germany with the 2017 Porsche Panamera, and now that we're back home in the States it's time for show and tell. The design is probably the most noticeable difference, but there is a lot going on inside and underneath this new Porsche sedan. Here are eight important bits worth talking about. It's longer, wider, and taller than before. The new Panamera is 198.8 inches (+1.3) long, 76.3 inches (+0.2) wide, and 56 inches (+0.2) high. It doesn't look bigger in person, though. Parked side-by-side, the 2017 Panamera looks chiseled and lean where the previous model was bulbous. The front and rear overhangs are reduced, aiding in the visual deception. We've already said that the 2017 Panamera is much prettier in person than its predecessor, and that's especially true from the rear three-quarter angle. There's a short flat surface at the tail below the rear glass, and the roofline over the rear of the passenger compartment was dropped by an eighth of an inch. Coupled with the new rear brake lights that are connected by an eye-catching light strip, those small detail changes make a dramatic impact on the car's overall appearance. Say goodbye to buttons. Physical buttons are quickly fading out of style, and the 2017 Porsche Panamera is the first vehicle from the German automaker that follows the trend. A sea of black plastic greets Panamera occupants, at least until the car is turned on. Then, the Porsche Advanced Cockpit lights up. Touch-sensitive controls abound for the driver and passengers both front and rear. The Advanced Cockpit definitely cleans up the Panamera's interior compared to the mess of buttons inside the first-gen model. We haven't been given the opportunity to put the new cockpit through its finger-friendly paces, but we're sure that if you understand how to operate a tablet, you've got the basics down already. Here's hoping it's intuitive and easy to use without diverting too much attention from the road. And wish a fond farewell to gauges (mostly). There's only one physical gauge inside the Panamera (unless you count the analog timer atop the dash on models equipped with the Sport Chrono Package). A tachometer sits directly in front of the driver. In a nod to Porsches past, it's designed to invoke memories of the classic 356. Besides that one throwback, the instrument cluster is dominated by twin seven-inch digital displays that flank the lone dial.