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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Get ready to Camino-ize your fourth-generation VW Jetta with this kit

Inexpensive, small pickup trucks used to be everywhere in the US, whether they were from Japanese brands like Datsun or Toyota, the truly weird Subaru Brat or even from Europe with the Volkswagen Caddy based on the Golf. These days that market has completely disappeared, but if you're willing to pick up some tools to build your own, there's a company out there bringing the Caddy back as a kit for the Jetta.
Mark Smith knows a thing about building a vehicle at home. He has over two decades in the DIY-car business as a co-founder of Local Motors and the company that became Factory Five Racing. His latest venture is Smyth Performance and already offers a mid-engine, VW-based kit called the G3F. His new product, though, started as a fluke. "I just wanted a shop truck," said Smith to Autoblog. He already had a Ford F-450 but found that he was driving around with the bed empty most of the time. The result was a pickup truck based on the fourth-generation Jetta that he dubbed the Ute.
The kit retails for $3,500 and ships in three, big boxes, and it's designed to be built and painted in a weekend. Buyers get fiberglass exterior panels, a fiberglass rear window surround, sliding rear window, an aluminum reinforced bed with a tubular steel subframe, taillights, a fully functional steel tailgate, and other parts. In the end, you get a vehicle with a six-foot bed and a payload of around 700-750 pounds. The Ute maintains all of the factory suspension, fuel tank and emissions equipment and requires just a few cuts in the body to complete. "We did a modern Caddy," admits Smith.

Germans, Brits and Ferrari's new V12 SUV | Autoblog Podcast #748

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. With the Detroit Auto Show now in the rearview, focus shifts to news that crept up outside of the North American spotlight. The two talk about the new Ferrari Purosangue SUV, then pivot to a discussion about the future of the Dodge Charger and Challenger based on rumors of a new assembly facility. Next, they discuss what they've been driving recently. Byron leads off with anecdotes from his trip to Spain to drive the 2023 Range Rover Sport and his weekend with the VW GTI SE. Next, Greg talks about the ups and downs of the BMW X3 M Competition and Mercedes-Benz GLE450 Coupe. After that, they spend your money; this week's is a whopper.   Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #748 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Ferrari Purosangue SUV revealed: V12 power, big price tag, surprisingly pretty Dodge Charger/Challenger production moving to Windsor? Cars we're driving 2023 Land Rover Range Rover Sport 2022 Volkswagen GTI SE 2022 Mercedes-Benz GLE 450 2022 BMW X3 M Competition Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Ferrari Purosangue revealed