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German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

Porsche purists, look away: This 911 is powered by Hyundai

Bisimoto appears to be putting together a Hyundai V6-powered Porsche 911. While the experiment reminds us of a project from earlier this year, in which Ryan Tuerck dropped a Ferrari V8 into Toyota GT86, this one's a bit different. Bisimoto has a history of creating some truly insane automobiles, usually with Veyron-menacing power levels. In fact, the tuning company built multiple 1,000 horsepower machines, including a 1976 Porsche 911 and a 2013 Hyundai Genesis Coupe, not to mention a few other Hyundais with oodles of power. So it seems Bisimoto has decided to combine the company's experience with both marque's into one machine with this 1977 Porsche 911. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The company revealed the intended engine for the car today, next to the disassembled tail end of the 911. No specific details about the engine were given, but a "hyundaiusa" tag, some helpful hints from Instagram commenters and some diligent Google image searching by Autoblog staff members seem to show that this is a Hyundai Lambda series V6. It also appears to be a version from a car with a transverse layout, which would make it easier to fit in the 911's traditional engine location. What we do know is that the build will be completed in time for the SEMA show, and we look forward to seeing the finished Franken-Porsche. The same probably can't be said for Porsche purists though. Related Video: News Source: Bisimoto EngineeringImage Credit: Bisimoto Engineering Auto News SEMA Show Hyundai Porsche tuning engine swap bisimoto

Mercedes may be working on a new electric car dubbed 'Ecoluxe'

Automobile has a lengthy piece this month on how the four German mass-market luxury manufacturers each plan to go after Tesla with their own electric vehicles. It was written by Georg Kacher, the magazine's European bureau chief, and the English version came a month after he wrote the German-language original for Autobild. Tesla isn't exactly a threat to the Germans, but, according to the report, the Model S is planting the right kinds of seeds in niches that are important to the luxury players. The thinking is that - in addition to needed electric vehicles anyway for stricter US regulations - it's better to start designing the machinery now. The article posited Porsche's attack would rest on the coming Panamera platform, but a big hurdle would be battery placement. Unable to find one large space for a lithium-ion pack, engineers would instead put batteries everywhere they could, for a supposed tally of some "108 battery pouches" throughout the body. A few days after the Automobile piece, however, Porsche publicly said it had no intention of challenging the Model S, because the enthusiastic driving the brand is known for doesn't jive with useful range. In Kacher's retelling, Mercedes' plans are even more ambitious, supposedly taking aim at the Model S and the coming Model X. It would do this with an investment in excess of $2 billion in a program called "Ecoluxe" – Mercedes has no brand division akin to BMW's i and Audi's e-tron. The new brand would create a four-strong family of bespoke electric vehicles: a smaller platform with a wheelbase around 106 inches and a larger one with a wheelbase around 118 inches. In addition, the range would have "provisions for rear-wheel drive, all-wheel drive, and rear-wheel steering." The numbers are impressive: seating for seven in the larger vehicles, both longer than 16 feet, front and rear storage areas, ratings of up to 610 horsepower and production capacity of 80,000 units per year. When would we see such creatures? Perhaps as soon as 2019. We do know that if Tesla can knock the Model X over the outfield fence, automakers are going to have to do something. We don't know what the chances are that Ecoluxe is Mercedes' first move - but such a plan could help explain the weird Mercedes concept spied in October.