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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.

World Car of the Year finalists announced

To say the 2014 Geneva Motor Show was packed full of news is an understatement as big as the show's home at the Palexpo convention center. Despite everything that we were able to cover during this year's show, there's still more coming out of Switzerland, including the announcement of the finalists for the 2014 World Car of the Year Awards.
We reported on the original list of finalists over three weeks ago, and now, that initial list has been pared down to three finalists for each of the five awards. The finalists were announced at a press conference by frequent Autoblog contributor and co-chair of the awards, Matt Davis (above).
The finalists for the overall title of 2014 World Car of the Year are the Audi A3, the BMW 4 Series and the Mazda3. The World Luxury Car of the Year will be either the Bentley Flying Spur, the Mercedes-Benz S-Class or the Land Rover Range Rover Sport, while the Performance Car of the Year will be awarded to the Chevrolet Corvette Stingray, the Ferrari 458 Speciale or the Porsche 911 GT3 (which, um, yeah...).

Bisimoto's 911 and Honda Odyssey each pack 1,000 hp

There aren't a lot of vehicles on the road that pack a thousand horsepower. The Bugatti Veyron and McLaren P1 are in rare company, but there have been a handful of aftermarket tuners that have managed to extract that much power out of lesser vehicles. Bisimoto is responsible for more than its fair share, so Matt Farah and the team at Drive stopped by the workshop in Southern California to check out the craftsmanship for the latest episode of Tuned. What they found is two vehicles with that astronomical four-figure output that otherwise couldn't be more different from each other. First up is the vintage, stripped-out 911 that company founder Bisi Ezerioha built for himself. It's based on a 1976 Porsche 911 Carrera with a widebody kit and a pair of turbochargers hanging off the back. The result is that thousand-horsepower output and, as Farah found out, one of the scariest, hairiest, and squirliest automobiles ever devised. As if that weren't enough, there's a thousand-horsepower minivan on the docket, too. This one is based on a Honda Odyssey, rebuilt on an air suspension and a six-speed manual gearbox conversion out of an Acura TL. And of course the engine's been tuned to deliver that headline output figure. Honda and Bisimoto showcased the vehicle at the SEMA show a couple of years ago, where Farah says he didn't think it could possibly hold together. But as he discovered in the video above, it actually does, and accelerates with tenacity... and plenty of room for the kids.