Porsche 911 993 Carrera on 2040-cars

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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

VW Group to split brands under four holding companies

The Volkswagen Group is planning a tremendous shift in its internal structure that will decentralize operations by splitting its 12 brands into four different holding companies. Here's the breakdown. Things will be split logically, considering the inter-sharing of parts, platforms, and engines. The Volkswagen brand, Seat, and Skoda make up a passenger vehicle division led by former BMW man Herbert Diess. Audi, which is tightly intertwined with Lamborghini and motorcycle manufacturer Ducati, will be managed by current Audi exec Rupert Stadler. Porsche and Bentley, which are already quite close, will be joined by Bugatti and run by Matthias Mueller. Finally, a commercial vehicles division will include Volkswagen Commercial, Scania, and Man. Former Daimler exec Andreas Renschler will take care of the big vehicles. The massive move, according to Automotive News Europe, is part of an internal VAG effort to move away from the structure established by ousted Chairman Ferdinand Piech, who favored a compact, but highly centralized, management structure to oversee the independent actions of the company's brands. Criticism of Piech's arrangement stemmed from the company's slow responses to changes in the market, ANE reports. The new structure should make for a more efficient, streamlined company that's better able to make crucial decisions. What are your thoughts? Should VAG decentralize, or did Piech have the right idea? Have your say in Comments.

Father-son team grows close by building tuned Porsche

We've seen several heartwarming videos of kids bonding over cars with their parents, whether racing together or giving them as gifts. The story of Leh Keen and his father McGrath, though, is somewhat different. Not many dads are looking for a vehicle quite this mental.
As Leh tells it, his dad saw a video online of one of the wild Porsches from Japanese tuner Rauh-Welt Begriff and decided that he needed one of the creations in his own garage. Since Leh knows something about cars himself as a driver for Alex Job Racing in the United SportsCar Championship, McGrath put his son in charge of managing the build from the company.
When the car made it to the US for completion from Rauh's famed builder Nakai, father and son bonded over the red, widebody 993-platform 911. The final product is certainly eye-catching. Scroll down to watch the video that features not only an engrossing father-son tale but also a seriously wicked, tuned Porsche from one of Japan's finest.