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VW close to decision on selling Bugatti to Rimac

FRANKFURT — Electric hypercar maker Rimac Automobili and Volkswagen's supercar brand Bugatti are a good technological fit, Porsche's CEO told German weekly Automobilwoche, fueling hopes that a deal between the two could happen soon. British automotive magazine Car last year reported that Volkswagen was on the verge of selling Bugatti to Rimac Automobili, citing sources. In exchange, Porsche, also owned by Volkswagen, would raise the 15.5% stake it owns in Rimac, founded by Croatian entrepreneur Mate Rimac, Car said. "At the moment there are intense deliberations on how Bugatti can be developed in the best possible way. Rimac could play a role here because the brands are a good technological fit," Porsche CEO Oliver Blume said. "There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year," said Blume, who also sits on the management board of parent Volkswagen. Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Pininfarina. Blume also confirmed higher savings targets for Porsche, saying the carmaker plans to support results by 10 billion euros ($12.1 billion) of cost cuts by 2025, up from 6 billion previously. Related Video:

VW XL1 priced at $169,000 in UK, only 30 will be sold there

Volkswagen has announced the pricing of its XL1 diesel plug-in hybrid for the UK, according to Car magazine. The small, uber-efficient two-seater will start at GBP98,515, or roughly $168,930 at current exchange rates. Additionally, only 30 units of the XL1 will be sold throughout the UK, giving it a rareness appropriate for its lofty price. It's nice to finally be able to stop speculating about the XL1's price. Even as recently as the first XL1 delivery in Germany, we were still mostly in the dark concerning the cost of the slippery VW. But is the price worth it, especially considering that the much sportier BMW i8 can be had for just a bit more (GBP99,895, or $171,460, in the UK)? Car seems to think so, noting that the XL1 is an eco and technology pioneer, and saying that its cost of ownership is "merely the price of progress." Plus, that includes the bragging rights of owning the world's most fuel-efficient car. The XL1's two-cylinder turbo-diesel engine displaces just eight-tenths of a liter and produces 47 horsepower. The internal combustion engine operates alongside a 26-horsepower electric motor powered by a 5.5-kWh lithium-ion battery pack. Despite its 2.64-gallon fuel tank, the XL1 has a maximum driving range of over 700 miles thanks to a 261-mpg rating (based on the European cycle). Unfortunately, we won't be able to do any bladder-busting, nonstop Chicago to DC road trips any time soon, as VW has no plans to bring the XL1 to North America - not that one would relish the experience of dicing it up with America's massive trucks and SUVs. If you want to drive one, you'll have to go to Europe, and you'd better have a very large piggy bank you're prepared to break open.

Recharge Wrap-up: VW CEO mulls battery factory, voters approve $201B in transportation funding

Volkswagen Group CEO Matthias Muller says that it would "make sense" for the automaker to begin producing its own batteries. As the company moves toward electrification, Muller says it would be a smart move to build a battery factory. "If more than a quarter of our cars are to be electronic vehicles in the foreseeable future then we are going to need approximately 3 million batteries a year," he says. Volkswagen has agreed to cut 30,000 jobs in its restructuring, while committing to creating 9,000 jobs in Germany through battery manufacturing and mobility services. Read more at Automotive News Europe. Election results show a desire for transportation funding. Earlier this month, voters in 22 states approved ballot measures adding up to $201 billion in funding for transportation projects, according to the American Road & Transportation Builders Association. California passed 15 transportation measures, including one in Los Angeles worth $120 billion for roads, bridges, and transit. The state of Washington secured $54 billion for light rail and buses. Atlanta approved about $4 billion for road and transit projects. Illinois and New Jersey passed measures to prevent the diversion of transportation user fee revenue to other industries. Read more from ITS International. The US Department of Energy (DOE) must hand over confidential documents about Fisker's bankruptcy. A Delaware federal judge ordered the DOE to give the documents – which concern a presentation by Fisker to the DOE in which it falsely claimed to meet milestones set forth in a government loan – to lawyers in a case in which investors claim Fisker lied to them about financial troubles. While the DOE has given over documents already, they were incomplete and heavily redacted. "I understand that such disclosures may have a negative impact on future DOE analyses," says US District Judge Sue Robinson. "but conclude nonetheless that under the circumstances at bar – the public money at stake, the Congressional hearings, and the fact that Fisker Automotive is now a defunct company – the balance of interests favors plaintiffs." Read more at Law360. Related Gallery Volkswagen I.D.