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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.

Paul Walker's daughter settles for $10m in crash lawsuit

Meadow Walker, daughter of the late Paul Walker, has agreed to a settlement with the estate of Roger Rodas worth $10.1 million over the death of her father. The basis of the settlement is that Rodas, who was driving the Porsche Carrera GT when it crashed, killing himself and Walker, was partly at fault for Walker's death. Police officials ruled that excessive speed was the main cause of the deaths of Rodas and Walker. According to TMZ, quoting attorney Jeff Milam, who is representing Meadow Walker, this sum is only a small fraction of the amount Paul Walker would have earned over his lifetime as an actor, which is almost certainly true. Walker was 40 at the time of his death, and was in the midst of a highly successful Hollywood career. A lawsuit was filed in September of 2015 by Walker's daughter against Porsche, alleging that the German automaker is also at fault for the deaths. Through her lawyer, Meadow says she "intends to hold the company responsible for producing a vehicle that was defective and caused Paul Walker's death." A court recently found that Porsche was not at fault for the death of Roger Rodas. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: TMZ, Automotive News - sub. req.Image Credit: Jennifer Lourie/WireImage Celebrities Government/Legal Porsche lawsuit Fast & Furious paul walker settlement roger rodas

This man literally loves a Porsche [NSFW]

Think you know what "auto erotic" means? Think again. Because one man in Thailand has redefined the term. Caught on security camera footage this guy lurks into a garage, looks over both shoulders, evidently misses the camera, drops trou and has his way with a Porsche Boxster. When the tailpipe proved too hot (or otherwise inhospitable), he moves up to the radiator grille and – ahem – finishes up there. Sadly this isn't even the first time we've come across this particular perversion. We'd urge caution before viewing the video, not only because it's not suitable for a workplace environment, but because once you see it, you're bound to repeatedly blurt out, "Why, man!? Why?"