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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Porsche 911 spied looking like a Porsche 911

The 2017 Porsche 911 hasn't gone on sale yet and spy photographers have already snapped an early mule for the next-generation 911 due in calendar year 2018. It might be difficult to make out underneath the cobbled-together bodywork of the previous 991-version 911, but this one has a wider rear end that could be hiding the plug-in hybrid powertrain expected to come with the next big model update, perhaps codenamed 992. The strange white plug would be where owners plug the coupe in, according to this patent drawing. There have been rumors of a hybrid 911 coming for more than a year now, with some suspicious bits in a mule seen last year, and early prognostications being that Porsche is lining up the powertrain for the 911 Turbo to produce somewhere around 720 horsepower. That would make sense as the first stop for the learning and components of the 918 Spyder to trickle down to the 911 range. If Porsche migrated the 918's 156-hp electric motor unchanged into the 560-hp 911 Turbo, you're looking at a 716-hp monster that accelerates even more quickly. A hybrid 911 Carrera model would sit above the standard turbocharged engines. Elsewhere, the 992 model will come on the current MMB platform, and the exterior will be one of evolution, naturally. Interior upgrades will include a fully digital instrument panel. Or, going off the reservation, former Porsche chairman Matthias Muller said earlier this year that, "the high-speed high-tech laboratory of the 919 Hybrid will benefit all our future vehicles" in reference to expanding the Porsche model line to seven models. At the time, Bloomberg wondered if Muller was referring to the long-rumored Ferrari competitor Porsche has debated.

Porsche goes Platinum with special edition Cayenne

The other day, Porsche announced a new special edition of the Cayenne. We didn't pay it much heed because it appeared to be exclusive to Europe (or, at least, markets other than ours), but now Porsche has announced its availability in North America, as well.
It's called the Platinum Edition, and it's available exclusively on the entry-level models with either the 3.6-liter V6 or 3.0-liter turbodiesel V6. You can tell the special edition apart from any other Cayenne by the silver details (accenting the grilles, window trim and rear spoiler) and its two-tone black and beige leather interior. But what makes it a compelling choice is the long list of equipment, which Porsche has identified as the most requested options and fitted them as standard, including the eight-speed Tiptronic S transmission, Power Steering Plus, Park Assist, Convenience Package and Bose audio.
Pricing starts at $63,300 for the Cayenne Platinum Edition, or $66,900 for the Cayenne Diesel Platinum Edition. That represents a premium of approximately $13,000 over a bone-stock model, but actually saves you a few grand if you were going to select all those options anyway. Check out the press release below for all the details.