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Former Porsche execs acquitted of stock manipulation charges

A German court acquitted former Porsche CEO Wendelin Wiedeking and former CFO Holger Harter of stock manipulation charges, according to Bloomberg. Prosecutors alleged the men hid plans to takeover Volkswagen while publicly denying their intentions to investors. The presiding judge didn't find any merit to those claims, though. "There is nothing to the allegations, absolutely nothing," Judge Frank Maurer said, according to Bloomberg. "There was no secret plan to take over VW." Rather than Porsche taking over VW, the exact opposite eventually happened, and both execs stepped down. Investigators first indicted Wiedeking and Harter for alleged stock manipulation in late 2012. A court in Stuttgart dismissed the case in 2014 because of a lack of evidence, but an appeals court later overruled that decision. The current trial finally began in October 2015. If convicted, Wiedeking faced up to 30 months in prison, and Harter could have received up to 27 months, Bloomberg reported. Prosecutors also wanted one million euro ($1.1 million) fines from them and 807 million euros ($910 million) from Porsche. The acquittal might not be the end of this long-running case, though. In Germany, prosecutors have the right to appeal a ruling, and the lawyer hasn't made a final decision yet. If the court thinks there's a reason, the former execs could be back in front of a judge at some point in the future.

Porsche 919 Hybrid used 500 gallons of fuel to win Le Mans

After 395 laps and over 3,300 miles covered, Porsche claimed its record seventeenth overall win at the 24 Hours of Le Mans this year. Those, however, were only a few of the numbers that went into the German team's landmark campaign, the fourth one-two victory in the history of its assault on the endurance race. And now it has released some of the other mind-boggling figures behind its win. Over the course of 24 grueling hours of competition, the winning Porsche 919 Hybrid averaged a staggering 139 miles per hour, reaching a top speed of over 211 mph. Along the way, the winning car changed gears over 25,000 times. We can imagine the drivers worked up quite a sweat in a cockpit, whose temperature topped 80 degrees, with less than a quart of water to drink during each stint between pit stops – the longest of which lasted over ten hours. Little wonder that Mark Webber lost over six and a half pounds by the end of the ordeal. Naturally, pit stops played a huge part in the campaign, and the team – whose headcount topped 120 – carried out 90 stops (30 per car) over the course of the race. All told, the three cars went through 116 tires, each car had its oil refilled entirely, and the winning car alone swallowed up 500 gallons of fuel. And that's not even counting the energy recuperated by the electric component of the hybrid powertrain, which would be enough to power a family home for three months. Those are just some of the most notable figures, but they give us a pretty good idea of the enormity of the whole endeavor. Want to read more? There's a whole list of numbers in the press release below. Related Video: The 17th overall victory for Porsche at the Le Mans 24-Hours 395 laps to victory Stuttgart. On Sunday, 14th June 2015, the trio of Earl Bamber (NZ), Nico Hulkenberg (GER) and Nick Tandy (GBR) took the 17th overall victory for Porsche at the Le Mans 24-Hours. They were followed across the line by the sister car of Timo Bernhard (GER), Brendon Hartley (NZ) and Mark Webber (AUS). This made it the fourth one-two result for the brand after achieving this in 1971, 1987 and 1998. But there are more interesting facts and figures about the race. • The winning team completed 395 laps (5,382,82 kilometres). This year's race was only two laps short of the longest distance covered in Le Mans back in 2010. • The average speed of the winning Porsche 919 Hybrid was 224.2 km/h.

Porsche 918 Spyder debuts with new N"urburgring lap record [w/video]

It's been a long time in the making, but Porsche has finally revealed the final production version of its long-awaited 918 Spyder here at the Frankfurt Motor Show. And yet that's not even the big news surrounding the hybrid hypercar.
No, the big news is that, while Porsche was preparing taking the wraps off the car here in Frankfurt, elsewhere in Germany a team was setting a blistering lap time at the Nürburgring. And not just any blistering lap time, but a new world record.
Porsche claims that, on the morning of September 4, a team of three drivers (including former rally champ Walter Röhrl and Porsche test drivers Timo Kluck and Marc Lieb) broke the Nordschleife lap record, Lieb finally setting the best time at 6:57 at an average of 111 miles per hour.