Classic 1984 Porsche 944 5-speed Sunroof Cd Low Miles Garage Kept Fl Immaculate! on 2040-cars

Auto blog

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.

Porsche recommits to Le Mans through 2018

Porsche is back at the forefront of sports endurance racing, and it has no intention of leaving anytime soon. The German automaker announced that it will stay in the LMP1 class of both the 24 Hours of Le Mans and the FIA World Endurance Championship through the end of 2018. So its rivals can look forward to a good three more years of heated competition at least. After winning at Le Mans a record 16 times, Porsche dropped out of competition for top honors in 1998. It returned to the front of the grid last year with the 919 Hybrid, winning the 6 Hours of Sao Paulo at the end of its debut season. Its greater victory, however, came earlier this summer when the revised version took a dominant 1-2 finish in the famous French endurance race. That put the team from Weissach in the lead for the World Endurance Championship, which it (spoiler alert!) further extended this weekend with another 1-2 finish in the inaugural 6 Hours of Nurburgring. "Motorsport is an important part of Porsche's brand identity – but not an end in itself. Racing has got to help the technology of future road going sports cars," said Porsche chief Matthias Muller in the statement below. "It was the revolutionary efficiency regulations that convinced us to return to top-level motorsport for the 2014 season. That we have managed to take the crown jewels of endurance racing in only our second year, with a one-two result in Le Mans in 2015 with our highly innovative and complex 919, is an outstanding testimony to the people in the Weissach research and development centre. The competition bears fruits and we see further potential for future synergy between the racing and road car programmes. This is why we have extended the programme." FIA World Endurance Championship (WEC) and 24-Hours of Le Mans Porsche confirms LMP1 programme up to end of 2018 Stuttgart. Porsche continues racing into the future with the 919 Hybrid: The board of Porsche AG has decided to extend the Le Mans prototype programme until the end of the 2018 season. With its ground-breaking concept – a downsizing turbo engine and powerful energy recovery systems, combined with an extreme lightweight design – the racing car with a performance of around 1,000 hp serves as a research laboratory for future sports car technology. Matthias Muller, Chairman of the Executive Board of Porsche AG, said: "Motorsport is an important part of Porsche's brand identity – but not an end in itself.

Winterkorn will leave remaining VW posts by end of the month

After stepping down as chief executive of the Volkswagen Group last month, Martin Winterkorn still retains a few key positions within and related to the German automaker. According to the latest reports, he's set to resign from those positions as well in the coming days. Aside from his former position as chairman of VW's executive board, Winterkorn has also served (and continues to serve at present) as chairman of the supervisory boards of Audi, truck manufacturer Scania (which is owned by VW), and the group's Truck & Bus division (of which Scania is part alongside Man). He's also the chief executive of Volkswagen's largest stakeholder Porsche SE, having taken up the position after the Porsche/Piech family enterprise acquired its majority stake in the group that also subsumed the sports car manufacturer. In what could prove a strong indicator of things to come, and according to the report from Reuters, Winterkorn was not present at a recent meeting of Audi's board. In his place, the meeting was presided over by deputy chairman Berthold Huber. The former labor leader also served as interim chairman of the VW board after Ferdinand Piech's departure but before CFO Hans Dieter Potsch was named to the post. The companies in question have yet to make any announcements regarding Winterkorn's remaining positions, or confirm the reports regarding his future. However parties close to the automaker and its owners reportedly expect the resignations from those positions to come as well before the end of the month, if not before the week is out. Related Video: News Source: ReutersImage Credit: JOERG KOCH/AFP/Getty Green Hirings/Firings/Layoffs Porsche Volkswagen Diesel Vehicles vw diesel scandal martin winterkorn Scania truck and bus gmbh