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VW close to decision on selling Bugatti to Rimac

FRANKFURT — Electric hypercar maker Rimac Automobili and Volkswagen's supercar brand Bugatti are a good technological fit, Porsche's CEO told German weekly Automobilwoche, fueling hopes that a deal between the two could happen soon. British automotive magazine Car last year reported that Volkswagen was on the verge of selling Bugatti to Rimac Automobili, citing sources. In exchange, Porsche, also owned by Volkswagen, would raise the 15.5% stake it owns in Rimac, founded by Croatian entrepreneur Mate Rimac, Car said. "At the moment there are intense deliberations on how Bugatti can be developed in the best possible way. Rimac could play a role here because the brands are a good technological fit," Porsche CEO Oliver Blume said. "There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year," said Blume, who also sits on the management board of parent Volkswagen. Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Pininfarina. Blume also confirmed higher savings targets for Porsche, saying the carmaker plans to support results by 10 billion euros ($12.1 billion) of cost cuts by 2025, up from 6 billion previously. Related Video:

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

Juan Pablo Montoya tests Porsche 919 Hybrid in Bahrain

Sealing the FIA World Endurance Championship wasn't the only thing that Porsche did this past weekend in Bahrain. Alongside its rivals from Audi and Toyota, the German outfit also participated in a test session for potential new drivers, including Juan Pablo Montoya. Driving the Le Mans- and championship-winning Porsche 919 Hybrid at the Bahrain International Circuit this weekend, Montoya set the fastest time of the day. His "qualifying" lap was clocked at 1:40.86, barely more than a second behind the 1:39.67 lap that earned Timo Bernhard pole position in the previous day's race – and a second faster than the fastest lap set in the race by Neel Jani in another 919 Hybrid. That's a mighty impressive feat for a driver relatively unaccustomed to driving a modern hybrid LMP1. Racing fans will know Montoya as a multi-talented driver. The Colombian has competed successfully in Formula One, Indy, NASCAR, and sports prototypes, winning races in all disciplines. Aside from the International Formula 3000 title, three outright victories in the 24 Hours of Daytona, and a handful of NASCAR street-course races, Montoya can count among his many achievements the CART title, two Indianapolis 500 wins, and the checkered flag at the Monaco Grand Prix (along with six other F1 races). Those victories have brought JP among the closest to winning the Triple Crown of motorsports of any driver in racing history, and he's still competing. For those unfamiliar, the Triple Crown is an unofficial measure to gauge the diverse talents of professional racing drivers in three disciplines: Indy, F1, and Le Mans. To win, a driver has to win the Indianapolis 500, the 24 Hours of Le Mans, and either the Monaco Grand Prix or the Formula One World Championship. Graham Hill is the only driver in history to have swept all the categories, but others have come close. The list of near-winners includes Tazio Nuvolari, Mike Hawthrown, Phil Hill, AJ Foyt, Bruce McLaren, Jim Clark, Mario Andretti, and Emerson Fittipaldi. The only contenders still active are Montoya and Jacques Villeneuve, who won at Indy in '95, the F1 championship in '97, and came second at Le Mans in 2008. Villenueve could still steal the crown if he gets another shot at Le Mans, but the more likely scenario would be to see Montoya rise to the throne. Especially if this test session is any indication. Also driving the Porsche was in the rookie test session was Mitch Evans, a former GP3 champion and GP2 race winner from New Zealand.