1989 Porsche 944 Turbo Coupe 2-door 2.5l Track Car on 2040-cars

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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."

Porsche CEO hints at Macan GTS, expects brand sales growth to 200K+

Porsche is expecting big things from its little Macan, with CEO Matthias Mueller announcing that not only is a sportier GTS model being considered, but that the CUV will almost certainly help push Porsche beyond its 200,000-unit-per-year sales goal three years earlier than expected.
"We're transferring the genes of the Porsche brand into a new market segment," Mueller said during a speech to kick off Macan production, according to Automotive News Europe. Macan demand should push the brand past 200,000 sales, Mueller said, confirming what we reported back in August. And if Porsche really has a hit on its hands, it is able to boost production of the sporty crossover beyond its initial capacity of 50,000 units, according to the brand's CEO.
Provided that the Macan is the success Porsche hopes it will be, Mueller hinted that the range could expand beyond the initial Macan S and Macan Turbo. "GTS versions have a tradition at Porsche," Mueller said. "We haven't made a final decision yet regarding the Macan, but I'm sure it makes a lot of sense."

1974 Porsche 914 EV conversion still looks good

Looking through the pages of the EV Album is a great way to learn about the breadth and depth of the electric vehicle community. Branching well beyond the three dozen or so electric vehicles that are currently sold by major automakers in the US, EV Album showcases lots of DIY conversions of all types. A 1995 Fiat Cinquecento? Check. A 1992 Kewet Eljet 2? No problem. The site's old-fashioned looks (it was started in 1997) show just how long people have been passionate about their EVs. Many of the cars are throwbacks to a previous time and we found a prime example of that, a converted 1974 Porsche 914 (EV Album page here) this week. Now powered by a Prestolite MTC4001 Series Wound DC motor and some flooded nickel-cadmium batteries, the 914 has a top speed of 80 miles per hour and a range of 35 miles. But only "if you are taking it easy," of course. The motor has a peak output of 60 horsepower and 25 hp continuous. Converted over 600 hours (!) to electric power at a cost of $10,000, it is now owned by Charlie Garlow of Maryland. The car is on display at the Washington Auto Show this week and serves as a great reminder of what most EV drivers used to have to do to drive emissions free. Featured Gallery 1974 Porsche 914 Converted EV View 11 Photos Image Credit: Copyright 2014 Sebastian Blanco / AOL Green Misc. Auto Shows Porsche AutoblogGreen Exclusive Green Culture Electric dc auto show washington auto show