Ca Rust Free Blue Plate Full Restoration 911 R S T E 65 66 67 69 70 71 72 73 on 2040-cars

Auto blog

Porsche's former CEO Wiedeking to stand trial over VW-share manipulation

Former Porsche CEO Wendelin Wiedeking (left in the above photo) could potentially be facing some time in the slammer after all. The last we had heard, he and former Chief Financial Officer Holger Haerter (right) had avoided a trial in April due to a lack of evidence. However, an appeals court in Stuttgart has looked at the case again and overruled the earlier decision, finding that the executives should be tried for share manipulation during Porsche's failed attempt to take over Volkswagen in 2008, Bloomberg reports.
The judges in the appeal "list numerous indications that could suggest that there was a hidden decision to increase the stake as they could suggest the opposite evaluation by the lower court," said Stefan Schueler, a spokesperson for the court, in a statement cited by Bloomberg. Wiedeking and Haerter put out their own releases saying that there was no merit to the charges.
The prosecutors allege that Wiedeking and Haerter had a plan to buy up VW stock options in 2008 to take the automotive giant over but hid it from investors. The whole thing was a massive failure and eventually allowed VW the chance to acquire Porsche and forced the two execs to step down. In addition to the criminal investigation, hedge funds have attempted to sue the company multiple times in civil court for the same reason, but they have repeatedly failed.

Porsche planning Cayman GT4 racer

To say that Porsche is big in racing is like saying that Warren Buffett dabbles in mergers and acquisitions. But while it fields the 919 Hybrid at Le Mans and in the FIA World Endurance Championship, the bulk of its racing activities are undertaken by private teams that buy customer racecars from the factory. Those in turn are largely based on the 911, but the latest intel from the motor racing world indicates that Zuffenhausen is planning a more accessible customer race car.
The new, more affordable competition car is to be based on the Cayman and built to GT4 specifications, slotting in below the 911-based GT3 Cup, GT3 R and RSR. Autosport reports that Porsche has already developed a prototype and will shortly commence testing. Details are scarce at the moment, but the Cayman GT4 would seem to compete against the likes of the Aston Martin Vantage N24, Nissan 370Z Nismo GT4 and Maserati GranTurismo MC. It will also likely help Porsche foster enthusiasm for a potential road version that's already been spotted undergoing testing. Previous GT4 racing conversions of the Cayman, like the one pictured above, were carried out by third-party racing constructors not recognized by the factory.
Porsche may not be the only one showing interest in the category, however. BMW is said to similarly be considering a GT4-spec version of its M235i Racing model to compete in the same class, taking the place of the defunct M3 GT4 as the Bavarian marque's entry-level customer racing car.

Porsche Cayenne shows a bit more face, plug-in spotted

Porsche was first rumored to be working on a plug-in hybrid (PHEV) version of the Cayenne over a year ago. However, we had never seen it, until now. The new model was caught almost completely undisguised while testing. In another stroke of luck, we got a glimpse of the upcoming facelift for Porsche's SUV (pictured above) as well.
According to the spy shooter, it was windy during the cars' cold weather testing. The cover blew off of the facelifted Cayenne, and there was enough time to snap these pictures before it could be hidden again. The changes are all quite minor but jive with what we saw the last time it was spied. The rear still wears some cladding but is expected to be hiding lights similar to the Macan.
The second gallery shows off the upcoming Cayenne PHEV. It looks nearly identical to the standard model, except for the extra panel on the driver's side of the car that hides the electric port. One image even shows the car plugged in. The new version is expected to use the same supercharged 3.0-liter V6 and 9.4-kilowatt-hour lithium-ion battery pack with a combined 416 horsepower and 435 pound-feet of torque from the Panamera S E-Hybrid. We enjoyed the system when we tested it last year. It's rumored to debut on the SUV sometime this year.