1970 Porsche 914-4 2056cc #790 on 2040-cars

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Former Porsche boss Wiedeking won't face criminal charges over VW bid

Hedge fund managers have been suing Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.
Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.

CEO says Volkswagen's buying spree is over

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.
"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

What is the fastest car in the world in 2024?

It wasn't that long ago that the notion of reaching 200 miles per hour in a car, on a road, seemed basically impossible. As you likely know by now, that time has passed. And once that threshold was crossed, the automotive world immediately began eying the next triple-digit benchmark: 300 miles per hour. It may have taken a little while, but the 300-mph line has been crossed, and some cars have moved well past that seemingly insane speed number. While some of these speeds have been achieved in simulations (including the fastest car listed below), there's little doubt that a driver with nerves of steel and a heavy right foot could indeed push several automobiles up to 300 miles per hour and beyond. Interestingly, it’s not just one car or automaker in the 300-mph club, as a handful of models have earned a place (sometimes claimed but not yet demonstrated) on the leaderboard. The fastest car in the world is: Koenigsegg Jesko Absolut (330 MPH) That title goes to the Koenigsegg Jesko Absolut, which recorded a staggering 330 mph top speed earlier in 2023. The carÂ’s twin-turbocharged 5.0-liter V8 lays down 1,600 horsepower and 1,106 pound-feet of torque, which plays a significant role in delivering that speed, but KoenigseggÂ’s engineers have given the car a lot more than mind-blowing power. The Jesko Absolut has a super-slippery 0.278 drag coefficient and a nine-speed transmission that shifts so quickly itÂ’s almost imperceptible. Koenigsegg calls it a Light Speed Transmission (LST), saying its shifts happen at almost light speed. While that might be a slight exaggeration, the gearbox is impressive, bringing several wet multi-disc clutches and a super lightweight construction. As Koenigsegg says, "the Jesko Absolut is destined to achieve higher, more extraordinary speeds than any Koenigsegg or any other fully homologated car before it." How expensive is the Koenigsegg Jesko Absolut? If you were reading that and wondering how much the fastest car in the world costs, the price tag is just another dizzying number on the Jesko Absolut's spec sheet. All 125 Absolut cars offered sold out at a price of almost $3 million. Of course, being able to afford the Koenigsegg is just the first step in realizing its full potential. There are very few places on the map that can support a 300-plus-mph speed run, and the locations that do are not conveniently located.