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Volkswagen taps Porsche chief for board

Matthias Mueller was promoted to the top position at Porsche in 2010 after a successful stint of developing model lines during his 36 years with the company, mainly at Audi. Having shown the same prowess while overseeing Porsche for the past five years, German outlet Frankfurter Allgemeine Zeitung reports that Mueller will be promoted to the management board of the Volkswagen Group, according to a leaked copy of an agenda for the meeting. It's said that a new spot is being created for him, one that will put him in charge of "overseeing cooperation" among Audi, Bentley, Bugatti, Lamborghini, and Porsche. While other group executives are known to hold positions on the board and with brands, or across brands, it isn't clear yet whether Mueller will keep his spot at the CEO of Porsche after the promotion. One thing that is certain is the 61-year-old Mueller doesn't see himself in line for Volkswagen Group CEO Martin Winterkorn's job in 2016, having told FAZ this month, "It's no solution to put a 63-year-old at the head of Volkswagen." News Source: Reuters, Automotive News - sub. req.Image Credit: Geoff Robins/AFP/Getty Images Hirings/Firings/Layoffs Porsche Volkswagen Performance volkswagen group matthias mueller promotion

If your TV rats you out, what about your car?

Vizio, the TV manufacturer, recently had to pay a $2.2-million fine to the FTC recently because it was discovered that its sets were collecting data about viewers' watching habits and then using the information for its own benefit. Last year, it was revealed the Samsung smart TVs were busy listening to what was being said, even if the conversations in question had absolutely nothing with switching the channel away from the Matt LeBlanc Top Gear. Nowadays, auto manufacturers seem to be tripping over each other pointing out that they offer Apple CarPlay and Google Android Auto. And more recent phenomenon are announcements—from companies including Ford and Hyundai—that they are offering Amazon Alexa capabilities. You talk. It listens. In late January, General Motors said it is releasing a next-generation infotainment software development kit (NGI SDK) to software developers to write apps for GM cars. The NGI SDK includes native Application Program Interfaces (APIs) that allow access to expected things - like oil life and tire pressure and whether lightbulbs are burned out - but unexpected things, as well. Like the presence of passengers in the vehicle. When your TV set is ratting you out, isn't it likely that your car will? In making the announcement of the NGI SDK, GM pointed out that it has the largest connected fleet on the road, some 12-million vehicles. The company also noted: "From 2015 to 2016, GM has seen data usage by customers increase nearly 200 percent. Mobile app use for GM vehicles also hit an all-time high in 2016, with more than 225 million interactions." Is it not plausible that they know more those interactions than simply the number of them? GM's privacy agreement is like most privacy policies, which boils down to: You use it (the device, software, etc.), you potentially give up a portion of your privacy. While on the subject of apps, coincident with this year's CES, Subaru announced that it has added eight cloud-based apps to the STARLINK multimedia system in the 2017 Impreza. Some are familiar, like Yelp. Some are a bit narrow in focus, like eBird, which was developed by the Cornell Lab of Ornithology for birdwatchers. And one ought to give a bit of pause: RightTrack. According to Subaru, "RightTrack Test Drive from Liberty Mutual Insurance monitors driving habits and provides customers with tips on driving safer to help lower their insurance rates and improve their safe driving skills." Or said more simply: You drive. It watches.

Bugatti and Rimac joint venture profitable 'beyond expectations'

WARWICK, England — The joint venture between Croatian electric carmaker Rimac and Bugatti has been far more profitable than anticipated as the two brands work on developing vehicles together under one roof, Rimac's top executive said on Wednesday. "It's highly profitable and cash flow positive beyond anybody's expectations," Rimac CEO Mate Rimac told Reuters in an interview at the UK offices of the carmaker's Rimac Technology unit in Warwick. "It's such a win-win situation for everybody." Rimac added the joint venture has brought "lots of synergies going both ways." The Rimac Group comprises the Bugatti-Rimac JV, producing the electric sportscar Nevera and the Bugatti Chiron — which is owned 45% by Porsche AG — and a technology unit which supplies battery systems and powertrain components to other carmakers. Earlier this year the group raised 500 million euros ($519 million) in a new funding round. Rimac's CEO said the company has developed a "really close strategic relationship" with Porsche, which was listed by its parent Volkswagen in October. Porsche holds a 20% stake in the Rimac group. "We are really collaborating on many levels, developing and producing lots of key elements of their (Porsche's) future hybridization and electrification," he said. Rimac's CEO said the group must become more like Ferrari with a predictable, stable and profitable business before it can contemplate an initial public offering. "They (Ferrari) make projections and they always achieve," he said. "What I want to have is some kind of stability and certainty before we do an IPO because we don't want to make promises we can't keep." An IPO could happen anytime from three years to a decade from now, and could involve going public as a group or spinning off a unit, he said, but is definitely coming because "we obviously have financial investors that at some point want to exit." Related video: Earnings/Financials Green Bugatti Porsche Electric Luxury Performance Supercars Rimac