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Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

Porsche to develop new line of engines for next Panamera

When the second generation of the four-door Porsche Panamera launches, it will likely be riding a new platform, complete with an all-new family of V6 and V8 engines, according to a report coming out of the UK.
Autocar reports that the so-called MSB platform will likely underpin the Panamera, and it could be shared with Bentley, provided the Volkswagen-owned, British-built brand commits to the architecture. As for the engines, it's reported that they'll have a sportier character than the V6s and V8s being built for Volkswagen and Audi's vehicles.
"Porsche will have its own new V8 that will be common to the new MSB platform," Porsche's chief engineer, Wolfgang Hatz, said. "It's a family for the next 10 years of cars." Whether the V8 and V6 will be used outside of the Panamera line, though, remains unclear. There's also no mention of what place turbocharging would have with the new engines.

Jay Leno plugs himself into Porsche's 918 Spyder

As one of the greatest sports car manufacturers of all time, when Porsche puts out a new, ultra-exclusive hypercar, enthusiasts tend to stand up and take note. Jay Leno is no exception, and now, the funnyman is finally getting his time with awesome 918 Spyder.
With his 1963 Porsche 356 and his 2005 Carrera GT flanking a Liquid Silver 918, Leno takes us through the basics of this plug-in hybrid roadster alongside Daniel Eastman of Porsche North America. Following the chat, Leno and Eastman take the German-plated car through the streets of California, testing it in a number of modes and even going on a short, all-electric freeway cruise.
If you're looking to learn more about the 918, or to just here its glorious gas engine at work, you'll want to scroll down and take a look at the latest episode of Jay Leno's Garage.