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UPDATE: Porsche could raise its stake in Rimac, and Rimac weighs in

CLARIFICATION: An earlier version of this Reuters story said Porsche could raise its stake in Rimac to nearly 50%, but Rimac reached out to Autoblog to say that's not so. Here is a statement from Mate Rimac: "We have a very strong partnership with Porsche that is key for Rimac Automobili. Porsche is a shareholder in Rimac since 2018 with 15.5% ownership currently, accumulated over several rounds of investment. While it is true that we are discussing further expansion of this collaboration that will lead to increase of Porsche's stake in Rimac Automobili, some media have mistakenly reported that Porsche would take over 50% or nearly 50% of the company.   We are very happy that the partnership with Porsche will strengthen even further, but it is in the interest of both Rimac and Porsche that Rimac is a fully independent company. We are working with many car companies that are not our shareholders and there is a clear separation between shareholding and projects. It is very important to us that our industry customers have the peace of mind that Rimac is independent and that there is an "Information Firewall" between projects and shareholders (not only Porsche, but also Hyundai and others) - and this will not change. Confidentiality is very valued in the industry and one of the basics for collaboration between companies. Our shareholders are happy with such an arrangement and expect the same level of professional behaviour and confidentiality for their projects and customer projects.   So, the point is: Porsche's stake will increase but nowhere near to 50% and Rimac will remain independent with many industry customers that are not our shareholders/investors." The original story, with the 50% reference removed, appears below.   FRANKFURT — Volkswagen unit Porsche is participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner Mate Rimac told weekly Automobilwoche. The fundraising should be completed in two to three months and another round is planned at the end of the year, Rimac told the trade journal. Porsche owns a 15.5% stake in Rimac Automobili and could raise its stake in a deal that would also include the transfer of Volkswagen's supercar brand Bugatti to Rimac, Automobilwoche said. Volkswagen and Rimac were not immediately available for comment on Sunday.

Volkswagen names Piech's nieces to supervisory board

Volkswagen was left with two vacancies on its supervisory board after Ferdinand Piech and his wife Ursula were forced out a few days ago, and now it's filled them. Intriguingly, however, both of the new directors are Piech's nieces. The most obvious connection is Julia Kuhn-Piech, a real-estate professional who has sat on the board of VW's Man truck subsidiary since last year. Kuhn-Piech, 34, is the daughter of Ferdinand's younger brother Hans-Michel Piech (and by extension, niece of the ousted chairman). The other seat is being filled by Dr. Louise Kiesling, 57, a designer and daughter of Ferdinand's late older sister Louise Daxer-Piech. Keeping track of the lineage of the Porsche-Piech clan can be confusing, particularly with so many Ferdinands and Louises, but it breaks down essentially as follows: All are descended from Ferdinand Porsche, founder of the eponymous automaker and credited as the designer of the original Volkswagen Beetle. Porsche had a son and a daughter, the latter being Louise Porsche, who married Anton Piech and had four children: Ernst, Louise (mother of incoming board member Louise Kiesling), Ferdinand (the ousted chairman) and Hans Michel, father of the other incoming board member Julia Kuhn-Piech and a board member of both the Volkswagen Group and Porsche SE as well. The Piech and Porsche families control Porsche SE, which holds 50.7 percent of shares in the Volkswagen Group, which in turn owns Porsche the automaker. With all that in mind, appointing other members of the Piech-Porsche clan to the board follows logically enough - particularly since other members of the family helped oust Ferdinand from the chairmanship in the first place. The nominations, incidentally, also help VW increase its proportion of female board members. The two incoming Piechs will join Annika Falkengren of Swedish bank SEB and Babette Frohlich of the same IG Metall union as the board's interim chairman Berthold Huber. Wolfsburg, 30 April 2015 Dr. Louise Kiesling and Ms. Julia Kuhn-Piech appointed new members of the Supervisory Board of Volkswagen AG Upon application by the Board of Management of Volkswagen AG, Dr. Louise Kiesling and Ms. Julia Kuhn-Piech were today appointed members of the Supervisory Board of Volkswagen AG by Braunschweig Local Court with immediate effect. The appointments were made pursuant to Section 104 of the Aktiengesetz (German Stock Corporation Act) and were occasioned by the recent resignations of Prof. Ferdinand K.

Evo sets up duel of Porsche 911s

What's better, rear-wheel drive or all-wheel drive? That question has occupied auto enthusiasts for years, and so far, we've not really had a solid answer one way or the other. Evo has opted to take another whack at this tough question by pairing a pair of Porsche 911s against each other for a track battle.
In one corner, we have the two-wheel-drive 911 Carrera S, complete with the lickity-split PDK transmission, a sports suspension and carbon-ceramic brakes. In the other corner, it's the all-wheel-drive 911 Carrera 4S in a much mellower spec, with a seven-speed manual, as well as standard brakes and suspension. While the results seem like they'd be a foregone conclusion, some very British weather is there to act as the great equalizer.
We've got the full video down below. Have a look, and let us know if you agree with Evo's results.