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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."

Recharge Wrap-up: AutoNation CEO calls anti-Tesla laws unnecessary, Common Pence donates subway money

Volkswagen has presented a list of near-term technologies to improve fuel economy and decrease emissions. The list includes an addition to a coasting function in its stop-start system, a 10-speed DSG transmission and a more power-dense four-cylinder TDI engine. Volkswagen aims to be the world's most sustainable automaker by 2018 through electric mobility, improved design and increased environmental performance from internal combustion vehicles. Volkswagen also announced other technologies for increased interactivity and connectivity in its vehicles. Read more at Green Car Congress. Commence Pence is a system that allows subway riders in London to donate their unused transit money to charity. People visiting the city often load up enough on their subway card (called Oyster Card) to get them through their trip and end up with unused funds leftover. Zander Whitehurst, a British designer, has created a device that can use the card's RFID to accept leftover funds, which then get diverted to charity rather than reverting back to the agency in charge of running the subway fare system. See the video below or read more at Wired. Mike Jackson, CEO of AutoNation has called Michigan's efforts to ban Tesla's direct sales in the state "unnecessary protectionism." The statement comes as a bit of a surprise, as it dissents from the majority of auto dealers who support a franchise model, as well as laws that forbid automakers selling directly to the consumer. "If Elon Musk wants to make a mistake and go with an inefficient distribution system, that's his right as an American," says Jackson, showing he feels he has little to fear from the electric automaker. Jackson has more to say on the matter, which you can read over at Green Car Reports. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Tesla Stores Around The World View 22 Photos News Source: Green Car Congress, Wired, Green Car ReportsImage Credit: Rick Bowmer / AP Government/Legal Green Tesla Volkswagen Fuel Efficiency Transportation Alternatives Electric recharge wrapup

Volkswagen Tiguan arrives with chiseled looks, GTE plug-in model [w/video]

After a long run, Volkswagen has finally retired the first-generation Tiguan crossover in favor of the larger, more chiseled second-generation model. The new compact is longer, wider, and lower than the more upright CUV that came before it. Yet, as we covered in our original post, the new Tig is also over 100 pounds lighter. The bodywork is conservative but handsome; typical of newer VWs. We see plenty of Passat and Touareg in the fascia, which features a three-bar grille that integrates neatly with the slightly canted, rectangular headlights. The beltline looks higher than today's Tiguan, and sits below a more aggressive greenhouse, which is a welcomed change after the soft, crossovery looks of the last-gen model. While VW has only released European powertrain options – there are eight engine options, split evenly between gas and diesel and boasting anywhere from 123 to 237 horsepower – we'll expect a far smaller roster for the US. Look for VW's familiar 2.0-liter, turbocharged four-cylinder to feature prominently in both front- and all-wheel-drive models, while we're personally hoping VW will see the light and offer a 2.0-liter TDI Tiguan. Of course, there's more than just gas and diesel for the new Tiggy. The all-new GTE model promises plug-in capability. Expect 31 miles of electric range and 215 system horsepower. There are even solar panels on the roof which could generate up to an extra 600 miles per year of driving range. VOLKSWAGEN REVEALS ALL-NEW EUROPEAN TIGUAN AT THE FRANKFURT INTERNATIONAL MOTOR SHOW Based off the MQB platform, the new European Tiguan revolutionizes the compact SUV • Powerful, authentic SUV design of the new Tiguan was completely reconfigured. • Tiguan is the first Volkswagen Group SUV to be based on the modular transverse matrix (MQB). • Longer, wider, lower – new vehicle architecture enables sportier proportions • Tiguan makes its debut at the IAA in an R-Line version, a classic on-road version and a version with an off-road front end. • Volkswagen is also showing the Tiguan GTE in Frankfurt with a plug-in hybrid drive and 1.9 litre per 100 km fuel consumption. • Newly conceptualised solar roof module for the Tiguan GTE increases its electric driving range. • Front Assist with City Emergency Braking and Pedestrian Monitoring, active hood, Lane Assist and the Automatic Post-Collision Braking System are fitted as standard.