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UPDATE: Porsche could raise its stake in Rimac, and Rimac weighs in

CLARIFICATION: An earlier version of this Reuters story said Porsche could raise its stake in Rimac to nearly 50%, but Rimac reached out to Autoblog to say that's not so. Here is a statement from Mate Rimac: "We have a very strong partnership with Porsche that is key for Rimac Automobili. Porsche is a shareholder in Rimac since 2018 with 15.5% ownership currently, accumulated over several rounds of investment. While it is true that we are discussing further expansion of this collaboration that will lead to increase of Porsche's stake in Rimac Automobili, some media have mistakenly reported that Porsche would take over 50% or nearly 50% of the company.   We are very happy that the partnership with Porsche will strengthen even further, but it is in the interest of both Rimac and Porsche that Rimac is a fully independent company. We are working with many car companies that are not our shareholders and there is a clear separation between shareholding and projects. It is very important to us that our industry customers have the peace of mind that Rimac is independent and that there is an "Information Firewall" between projects and shareholders (not only Porsche, but also Hyundai and others) - and this will not change. Confidentiality is very valued in the industry and one of the basics for collaboration between companies. Our shareholders are happy with such an arrangement and expect the same level of professional behaviour and confidentiality for their projects and customer projects.   So, the point is: Porsche's stake will increase but nowhere near to 50% and Rimac will remain independent with many industry customers that are not our shareholders/investors." The original story, with the 50% reference removed, appears below.   FRANKFURT — Volkswagen unit Porsche is participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner Mate Rimac told weekly Automobilwoche. The fundraising should be completed in two to three months and another round is planned at the end of the year, Rimac told the trade journal. Porsche owns a 15.5% stake in Rimac Automobili and could raise its stake in a deal that would also include the transfer of Volkswagen's supercar brand Bugatti to Rimac, Automobilwoche said. Volkswagen and Rimac were not immediately available for comment on Sunday.

Tesla, Porsche and Genesis top Consumer Reports owner satisfaction survey

Tesla swept Consumer Reports' latest Ownership Satisfaction Survey results, notching the top spot among brands evaluated. Its Model S also netted the No. 1 spot among the top 10 most-satisfying cars. Porsche and Genesis, Hyundai's new luxury spinoff, rounded out the top three brands. The bottom of the rankings was anchored by Acura, while Mercedes-Benz notched the least-satisfying car in the survey with the GLA, proving that the results weren't equally kind to all luxury brands. Jake Fisher, director of automotive testing for Consumer Reports, told USA Today those brands suffered by introducing cheaper vehicles. The scores, on a 100-point scale, reflect whether owners say the vehicles from model years 2015 through 2018 met their expectations and whether they would buy the same car again. They measure ratings in six categories: driving experience, comfort, value, styling, audio and climate systems (what, no cupholders?). Effectively, it gauges how much people liked the car they bought. Reliability is not considered. The Honda Ridgeline outscored competitors in the compact pickup segment by a wide margin, while the Ford F-350 was among the top 10-ranked vehicles in the survey, the first time in at least five years that a pickup made it into the top 10, Consumer Reports said. In the brand survey, Chrysler rose four places to No. 4 on strong customer satisfaction with the Pacifica minivan, while Hyundai tumbled 11 spots to No. 24 and Lexus fell eight places to 18th. Rounding out the top 10 most satisfying cars were the Porsche 911, Chevrolet Corvette, Lincoln Continental, Mazda MX-5 Miata, Toyota Prius, Tesla Model X SUV, Honda Odyssey minivan and Dodge Challenger. Not surprisingly, most of those cars, and indeed most of the high-ranking brands, are those with strong brand loyalty, fan-like followings and/or those that strike a strong emotional chord with buyers. The full brand rankings are below. Tesla (90) Porsche (85) Genesis (81) Chrysler (78) Audi (76) Mazda (76) Subaru (76) Toyota (76) Honda (75) Lincoln (75) Mini (73) Ram (73) Kia (72) Chevrolet (72) BMW (72) GMC (72) Ford (70) Lexus (70) Volvo (69) Dodge (68) Jeep (68) Mercedes-Benz (67) Volkswagen (67) Hyundai (67) Buick (66) Cadillac (64) Infiniti (60) Mitsubishi (58) Nissan (58) Acura (58) Related Video: Green Genesis Porsche Tesla Ownership satisfaction

2015 Porsche Panamera S First Drive

Porsche brought the Panamera in for its garage makeover and drove it out looking almost exactly the same. Turns out it was one of those fancy German refreshes where everything happens in places you can't immediately see, as we found recently on the 2015 Volkswagen Jetta TDI. The marquee revision across the lineup is under the hood, where every engine gets, at the very least, more power. Such is the case for the naturally aspirated V6 in the entry models, fitted with an increase of 10 horsepower for a total of 310. The same goes for the naturally-aspirated 4.8-liter V8, which lives only in the Panamera GTS now, and gets 10 more hp for a total of 430. That same V8, twin-turbocharged in the Turbo model, is graced with 20 more ponies for 520 hp. The mightiest marquee revision is saved for the S models, which surrender their use of the 4.8-liter V8 and get a 3.0-liter, all-aluminum, twin-turbocharged V6 in its place. It's a brand-new engine designed in-house and related to the 3.6-liter V6 in the base models, but with new features like a magnesium timing chain cover, variable camshaft timing for the intake and the exhaust valves, and a new fuel- injection system. Putting out 420 hp and 384 pound-feet of torque, it's got 20 more hp and 15 more lb-ft than the V8 it replaces. What's more, torque used to peak from 3,500 to 5,000 rpm, but the new torque curve maintains maximum twist from 1,750 to 5,000 rpm. It is less thirsty as well, posting an estimated fuel economy of 17/27 miles per gallon city/highway, besting the 16/24 city/highway of before. An improved stop-start mechanism contributes to this, as it cuts the engine earlier, and the coasting function benefits from a new disc clutch that can decouple the seven-speed PDK dual-clutch transmission from the driveline. As we wrote in our Panamera S E-Hybrid review, you'd need to be obsessed with the Panamera to notice the sheet metal changes around that engine. It's the perfect car to ask, oh so coyly, "Notice anything different about me?" while you stand there dumbfounded, silently thinking, "No." Here is your cheat sheet: the front and back ends are "tighter," meaning faintly more squared off, the front intakes are larger, the tailgate gets wider rear glass over the same-sized opening, the rear spoiler is wider, and the rear license plate bracket has been mounted lower. But even now that you know what the changes are, odds are still 200-to-1 against you actually noticing.