1979 - Volkswagen Beetle on 2040-cars

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Rimac inks deal to purchase 55% of Bugatti from VW Group

ZAGREB, Croatia — Croatian electric supercar builder Rimac is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros. Rimac said GermanyÂ’s Volkswagen Group, including the Porsche division — which owns a majority stake in Bugatti — plans to create a new joint venture. The new company will be called Bugatti-Rimac. Rimac Automobili announced Monday that it will be combining forces with Bugatti to “create a new automotive and technological powerhouse.” Rimac has progressed in 10 years from a one-man garage startup to a successful company that produces electric supercars. Mate Rimac, who founded the company in 2009, says the venture is an “exciting moment” and calls the combination of the companies “a perfect match for each other.” Porsche will own 45% of Bugatti-Rimac while Rimac Automobili will hold the remaining 55% stake, according to Croatian media reports. Financial details of the deal were not published. Bugattis will continue to be assembled in eastern France, where the company was established in 1909. The vehicles will use engines developed and made in Croatia. “In an industry evolving at ever-increasing speed, flexibility, innovation and sustainability remain at the very core of RimacÂ’s operations," the company said. “Uniting RimacÂ’s technical expertise and lean operations with BugattiÂ’s 110-year heritage of design and engineering prowess represents a fusion of leading automotive minds." Earnings/Financials Green Bugatti Automakers Porsche Volkswagen Green Automakers Electric Supercars

Audi CEO's Dieselgate arrest threatens fragile truce among VW stakeholders

FRANKFURT — The arrest and detention of Audi's chief executive forces Volkswagen Group's competing stakeholders to renegotiate the delicate balance of power that has helped keep Audi CEO Rupert Stadler in office. Volkswagen's directors are discussing how to run Audi, its most profitable division, following the arrest of the brand's long-time boss on Monday as part of Germany's investigations into the carmaker's emissions cheating scandal. The supervisory board of Audi, meanwhile, has suspended Stadler and appointed Dutchman Bram Schot as an interim replacement, a source familiar with the matter said on Tuesday. Schot joined the Volkswagen Group in 2011 after having worked as president and CEO of Mercedes-Benz Italia. He has been Audi's board member for sales and marketing since last September. The discussions risk reigniting tensions among VW's controlling Piech and Porsche families, its powerful labor representatives and its home region of Lower Saxony. VW has insisted the development of illegal software, also known as "defeat devices," installed in millions of cars was the work of low-level employees, and that no management board members were involved. U.S. prosecutors have challenged this by indicting VW's former chief executive Martin Winterkorn. Stadler's arrest raises further questions. Audi and VW said on Monday that Stadler was presumed innocent unless proved otherwise. Munich prosecutors detained Stadler to prevent him from obstructing a probe into Audi's emissions cheating, they said on Monday. Stadler is being investigated for suspected fraud and false advertising. Here are the main factors deciding the fate of Audi. Background: Audi's role in Dieselgate Volkswagen Group was plunged into crisis in 2015 after U.S. regulators found Europe's biggest carmaker had equipped cars with software to cheat emissions tests on diesel engines. The technique of using software to detect a pollution test procedure, and to increase the effectiveness of emissions filters to mask pollution levels only during tests, was first developed at Audi. "In designing the defeat device, VW engineers borrowed the original concept of the dual-mode, emissions cycle-beating software from Audi," VW said in its plea agreement with U.S. authorities in January 2017, in which the company agreed to pay a $4.3 billion fine to reach a settlement with U.S. regulators.

VW recalls another 6,700 vehicles over fuel leak [UPDATE]

UPDATE: An earlier version of this post suggested that the expanded recall involved an additional 44,658 units, when VW tells us that is in fact the total number - adding a further 6,679 to the original recall of 37,979. The text below has been updated accordingly, with our apologies for the confusion. It was a little over a month ago that Volkswagen issued a recall for some 38,000 vehicles over a potential fuel leak. Now the German automaker and the National Highway Traffic Safety Administration have expanded that recall, affecting even more vehicles for the same issue. The problem revolves around a sealing cap at the fuel rail, which could fail and cause fuel to leak into the engine compartment, thereby increasing the risk of a fire. This time around, VW is calling in a selection of Jettas, Passats, Golfs, GTIs, Beetles and Beetle Convertibles, all of them from the 2014 and 2015 model years (except the Golf and GTI, of which only 2015 models are being recalled). The recall now affects an estimated additional 6,679 units, which (in addition to the 37,979 recalled previously) brings the total up to 44,658 vehicles across the United States. RECALL Subject : Fuel Leaking Into Engine Compartment Report Receipt Date: JAN 23, 2015 NHTSA Campaign Number: 15V028000 Component(s): FUEL SYSTEM, GASOLINE Potential Number of Units Affected: 44,658 Manufacturer: Volkswagen Group of America, Inc. SUMMARY: Volkswagen Group of America, Inc. (Volkswagen) is recalling certain model year 2014-2015 Jetta vehicles manufactured March 28, 2014, to November 24, 2014, 2014-2015 Passat vehicles manufactured April 7, 2014, to November 18, 2014, 2015 Golf and GTI vehicles manufactured July 1, 2014, to November 20, 2014, and 2014-2015 Beetle and Beetle Convertible vehicles manufactured March 31, 2014, to November 27, 2014. A sealing cap at the fuel rail may fail, allowing fuel to leak into the engine compartment. CONSEQUENCE: A fuel leak, in the presence of an ignition source, can result in a vehicle fire. REMEDY: Volkswagen will notify owners, and dealers will replace the fuel rails with new parts, free of charge. The recall is expected to begin in early February 2015. Owners may contact Volkswagen customer service at 1-800-822-8987. Volkswagen's number for this recall is 24BL. Note: This recall expands and supersedes recall 14V-809 (Volkswagen recall number 24Bi) and only affects vehicles not previously repaired under that campaign.