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Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

Recharge Wrap-up: 2015 Fuel Economy Guide available, how Porsche ships 919 Hybrid

The EPA and Department of Energy have released the 2015 Fuel Economy Guide. Unsurprisingly, the groups say that this year features more fuel efficient and low-emissions vehicles than previous years, and they span a greater variety of vehicle types. The guide also provides "best-in-class" lists, greenhouse gas ratings and estimated fuel costs for each vehicle. The EPA and DOE hope that car buyers will use the guide to help choose cars that are better for the environment and the climate. Check out the guide for yourself or read more in the press release below. To get from one WEC race to the next, Porsche ships its 919 Hybrid LMP1 cars by air. As the team travels around the world - from continent to continent - it must take 35 tons worth of cargo with it, including two LMP1 cars. That means draining fluids, partially dismantling the cars, and fitting everything into a 747. The team also ships items by sea, which requires shipping extra sets of items due to the longer shipping times. "It's all about efficiency," according to Porsche. Read more in the press release below. Terra Motors is unveiling the A4000i electric scooter, which it will sell in Europe, at the EICMA motorcycle show in Milan. The A4000i, which features smartphone connectivity, will be the company's European flagship model. Terra Motors will begin selling in Italy, and plans to make arrangements to sell in several more countries shortly after. Terra hopes to set up manufacturing in Europe, as well. Also on display at EICMA is the company's Bizmo II electric scooter, which has a driving range of 93 miles on a single charge. Read more in the press release below. Volkswagen is providing a 2015 e-Golf to Stanford University for research. The car will be used to study electric mobility, improvements in the driving experience and people's driving behavior and attitudes toward EVs. "Volkswagen's longstanding relationship with Stanford has allowed us to push the boundaries of automotive research and innovation," says Volkswagen's Ewald Goessmann, "and we look forward to extending our work together to drive advances in electric vehicles." See the video and read more in the press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. EPA, DOE Release 2015 Fuel Economy Guide for Car Buyers The U.S.

Anti-UAW VW workers move to form own union

The struggle over unionization at the Volkswagen factory in Chattanooga, TN, continues to get more complicated. There's now a second union fighting to organize at the plant; although this one is staunchly against the actions of the United Auto Workers. At the same time, the UAW is still signing up voluntary members to its recently created Local 42 at the facility and is reportedly near having a majority of the hourly employees on its side.
The new, anti-UAW union campaign is being spearheaded by employee Mike Burton, according to Reuters, and he calls his group the American Council of Employees. He claims to already have 108 signatures in support of his organization. Burton believes that the UAW is harmful to businesses, and his goal is to force another vote to determine a preferred union among workers.
The UAW was initially defeated (712 to 626) when it attempted a union vote at the Tennessee plant in February. However, UAW secretary-treasurer Gary Casteel told Reuters that Local 42 has already signed up over 700 members. If it can reach a majority of the roughly 1,500 employees, the group hopes VW might consider recognizing it as the factory's union.