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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Porsche acquires Kyalami race track at auction

With more victories under its belt than any other manufacturer, you could say, in a figurative sense at least, that Porsche owns countless numbers of race tracks around the world. But here we're not talking about figuratively owning a track - we're talking about literally buying one. And Porsche has just bought Kyalami.
Kylamai, for those unfamiliar, is a grand prix circuit near Johannesburg in South Africa. Between 1967 and 1985, and again in '92 and '93, it was home to the South African Grand Prix, and has since hosted a variety of local and lower-level international races, but apparently fell on hard times. As a result, the track's owners - listed as Universal Property Professionals - put it up for auction. Bidders had to deposit four million Rand (about $380k) to participate, but after just 50 seconds, the auction was over.
The winning bid was placed - via telephone from the local press launch for the Macan - by Porsche South Africa CEO Toby Venter, who bid a reported 205 million rand (about $19.5 million) to take over the complex. The German automaker's South African division reportedly intends to keep the track open for racing, but could also be expected to use the facility for testing, customer track days and such moving forward.

There's a Porsche Cayman under here somewhere

What we have here is the work of Dubai tuner Royal Customs that is controversial even beyond its styling. The Middle East aftermarket house says it spent fourteen months developing a bodykit for the Porsche Cayman, and the results seem to be aimed at those who wish their coupe were a 918 Spyder - the nose, strake-filled and widened rear fender, carbon fiber wing and massive diffuser all cribbing some from Stuttgart's new hybrid supercar.
Even without a buyer, the Alpha One Concept is already controversial. When WorldCarFans posted on the Royal Customs car recently, German tuner Alpha-N Performance wrote in alleging that the Dubai package copies their design from two years ago, which was also called the Alpha One, a design with which it's clear the Dubai Alpha One shares numerous cues. We asked Royal Customs about its relationship to the Alpha One car, we were told, "Yes, there is a lot we can say about the remarkable similarities all of which will be explained by our press release by Mr. Emil from Autogespot. Please wait for the official release and you will have the full exciting story. It's an 'actual success story' and not a 'replication' story."
The response is referring to an "extensive report" on the car coming out of Autogespot. Royal Customs doesn't have the Alpha One Concept on its site yet, so we're still missing quite a few details on it, such as whether the Porsche engine has been given a similarly 918-ish workover. We do know that the company says each car takes 30 days to build and it will only build three of them, which is a number that should satisfy any haters and, even more so, its buyers. You can decide which side of the fence you're on by having a close look at it in the gallery above.