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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.

VW confirms Golf GTD diesel coming to US for 2016

Part of the Volkswagen Golf recipe that has helped the car sell more than 30 million units in just under 40 years is the number of variants in which the hatchback is offered. Building on that range here in the US, Automotive News is reporting that we will finally be getting the sporty Golf GTD, likely as a 2016 model. It's the GTD, you'll recall, that crosses the performance abilities of the venerable GTI with a powerful and fuel-efficient diesel engine.
After speaking with Andreas Valbuena, Volkswagen product manager for the Golf, AN not only says that the GTD will for sale in the US in a couple years, it also estimates a baseline price of around $27,000, which would place it between the current pricing for the GTI and the Golf R. The GTD is launching in Europe this summer, but we won't be getting the seventh-generation Golf in the US for another year. The news about the performance diesel model isn't entirely unexpected - VW officials have been hinting at it for at least a year now, going so far as to import a sixth-generation model for media test drives on US soil, a task we happily took them up on last year.
The Mk VII GTD uses VW's 2.0-liter TDI engine with output increased to 184 horsepower and 280 pound-feet of torque, allowing the car to sprint to 60 miles per hour in about seven seconds while returning more than 40 mpg in highway driving. We can't wait.

Autoblog Electric launches; we talk EV news, VW ID.4 and Kia EV6 | Autoblog Podcast #770

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. In company news, we launched the Autoblog Electric hub this week, and as such, we spend a lot of this episode talking about EVs. WE start by talking about some electric pickups on the way, EV charging and U.S. infrastructure plans, states banning ICE sales, the happiest EV owners, thoughts on the viability of smaller electric automakers and Formula 1's renewed stance against goinf electric. We also share notes on the Volkswagen ID.4 and Kia EV6 we've been driving, as well as other memorable EVs we've driven in the past year. Finally, we reach into the mailbag for a Spend My Money update before talking about late winter/spring beverages.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #770 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 Autoblog launches Autoblog Electric Electric pickup trucks available in 2023 and beyond The current and future state of EV charging New Jersey is the next state to ban light-duty ICE vehicle sales by 2035 Rivian R1T, Mini Cooper Electric owners happiest with their EVs Thoughts on smaller electric automaker firms F1 CEO vows there will never be an electric car on the grid Cars we're driving Long-term 2022 Kia EV6 2023 VW ID.4 Other memorable EVs Spend My Money update: Replacing an Alfa Romeo Giulia with a BMW i4 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: Government/Legal Green Motorsports Podcasts Kia Lotus Volkswagen Green Automakers Green Culture Green Driving Truck Crossover SUV Electric Racing Vehicles Infrastructure Lucid