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Volkswagen reportedly to name Matthias Muller CEO

Porsche chief executive officer Matthias Muller is expected to be named CEO of Volkswagen AG, the Wall Street Journal and other sources reported Thursday morning. Muller, 62, has led Porsche since Oct. 1, 2010, and jumpstarted the sports-car brand's expansion around the world. He replaces Martin Winkerkorn, who stepped down Wednesday amid the company's worsening diesel scandal. At least three more executives are also expected to be fired, including Volkswagen's US chief and the heads of Audi and Porsche research and development. Both brands are divisions of VW. A US spokesman wouldn't confirm the reports. An official announcement is expected at VW's board meeting on Friday. Muller's ascension caps a stunning week of turmoil for Volkswagen, which manipulated software to make its diesel-powered vehicles appear cleaner during testing that they are in real-world driving. The charges were revealed last week by the EPA, which cited the work of researchers at West Virginia University. About 482,000 vehicles are affected in the United States, which will be subject to recall, and VW estimates about 11 million of its vehicles around the world have the rigged software. The well-regarded Muller was viewed as a front-runner for the job even before Winterkorn stepped down. Before helming Porsche, he oversaw all vehicle projects globally for VW from 2007-2010. Previously, he was in charge of the Audi and Lamborghini product lines, and earlier in his career was responsible for the Audi A3 program in the 1990s. He joined Audi in 1977. He's trained as a toolmaker and studied information technology in Munich. His last name is sometimes spelled Mueller in English. Muller faces immediate challenges as he takes over VW's sprawling 78-year-old industrial empire, including recalls and regulatory actions around the world. In the US alone, the company faces a fine of up to $18 billion. VW, an industrial symbol of Germany, is also far larger than any unit Muller has run in his career. While Porsche sold 189,849 vehicles in 2014 globally, it's one of many VW brands. Collectively they sold 5.04 million vehicles through the first six months of this year, making Volkswagen the world's largest automaker. Related Video:

Pininfarina teases its Tesla- and Bugatti-baiting EV supercar

Pininfarina isn't being bashful when it comes to getting into the car business. The Italian design house has revealed a sketch of the PF0 Concept, an electric supercar aimed directly at the world's fastest and most expensive vehicles. With upward of 1,000 horsepower, along with an expected price in the millions of dollars, this extreme EV is meant as a calling card for Pininfarina's upcoming range of electric cars and SUVs. So should the likes of Tesla, Porsche, Ferrari, Bugatti and Lamborghini be worried? Pininfarina might be new to building its own cars, but the company has many decades of experience designing and engineering some of the most desirable cars of all time — including many of the finest supercars to have worn a Ferrari badge on their nose. As we reported earlier this year, Pininfarina has teamed with Indian auto manufacturer, Mahindra, to develop a range of high-end EVs. With this roughly $500 million investment, not to mention some engineering help from Croatian supercar manufacturer, Rimac, Pininfarina aims to start high. The company will first introduce a hypercar, based on the PF0 Concept, within two years, then bring along a range of more affordable electric cars and SUVs. These will more directly take on the likes of Porsche Cayenne, Lamborghini Urus, and Tesla Model X. So yes, if you're in the business of building expensive cars, especially ones with a lot of batteries positioned inside them, Pininfarina's plans for the PF0 (that's a zero, not the letter "O," by the way) should make you sit up and take notice. "Automobili Pininfarina is a pioneering new business created to service the most discerning clients in the world," said Michael Perschke, CEO for Automobili Pininfarina. "Our product portfolio will launch with an innovative, zero-emissions hypercar that represents the progression we aim to make at the pinnacle of the luxury and sports car market." According to its press release, Pininfarina is currently presenting its "business and product plans to prospective retailer partners, clients and media in New York this week." After its tour of the Big Apple, look for Pininfarina to officially reveal the PF0 Concept during Monterey Car Week in August. Related Video: Design/Style Green Bugatti Lamborghini Porsche Tesla Electric Future Vehicles Luxury Performance Pebble Beach supercar mahindra hypercar Rimac

Porsche CEO Oliver Blume will be installed as head of the VW brand

Volkswagen Chief Executive Herbert Diess is planning to promote Porsche CEO Oliver Blume to take over as the head of the VW brand, according to a report from Auto Motor und Sport. Citing company sources, the German site said Bernhard Maier, who currently sits at the head of VW's Skoda brand, will lead Porsche in Blume's place. A shuffle at VW isn't surprising. The last thing Volkswagen needs as it transitions away from its long-running "clean diesel" TDI fiasco and into a clean electric ID future is negative press surrounding its burgeoning electrified lineup. Unfortunately, the ID.3 launch has been marred by software issues, with Manager magazine citing company engineers saying "the basic architecture was developed too hastily." Because of that underlying issue, various modules "often do not understand each other" and suffer dropouts. The brand-new eighth-generation Golf launch was also troubled and pushed back due to software problems. And more recently, Volkswagen was forced to pull an advertisement after admitting it was racist and insulting. That marketing misstep, according to the report, will lead to the firing of Chief Marketing Officer Jochen Sengpiehl. Related Video: