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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 to expand range, Ferrari fighter a possibility

Porsche has something new on the way; not just the Cayman GT4 or 911 GT3 RS from the 2015 Geneva Motor Show, but a completely different, seventh model line. Unfortunately, the company is keeping mum about what exactly it has on the way. Porsche chairman Matthias Muller (pictured above) snuck the announcement into his speech during the brand's recent press conference. "For example, in the not too distant future we will present a seventh model series. But I am not yet able to tell you exactly when this will happen. There are already promising plans, but no board decision yet." Separately, Muller also indicated that the brand didn't want to set targets too far beyond 2018, which hints when this new vehicle might be unveiled. To lend one more possible clue, the boss said, "the high-speed high-tech laboratory of the 919 Hybrid will benefit all our future vehicles." With the absence of any more facts, speculation is filling the vacuum. Bloomberg posits that this could be Porsche's rumored competitors against Ferrari or Tesla. An electric model is rumored for 2019 with up to 600 horsepower and 300-mile range. "Tesla has built an exceptional car," Muller said, according to Bloomberg. "They have a very pragmatic approach and set the standard, where we have to follow up now." The model could also be the once-confirmed and reportedly-canceled Ferrari challenger to slot between the top 560-hp 911 Turbo S and sold-out, 887-hp 918 Spyder. There is a hole in the lineup in that niche with the latest Ferrari 488 GTB making 661 hp. Of course, there's also the already-spied Pajun four-door as yet another possibility. It's also rumored to hit the market in 2019. Although, some speculation postulates that that this smaller vehicle and the Tesla competitor are actually the same thing. Show full PR text Matthias Muller ? Annual Press Conference 2015 ? March 13, 2015 Ladies and gentlemen, After looking at business year 2014 in detail, I would now like to put my focus on 2015 and the medium-term future. The new business year started extremely well for Porsche. We were able to follow up on the success of the previous year with good delivery figures. By the end of February, we had already delivered 31,000 new vehicles to our customers worldwide. This is approximately a third more than the first two months of 2014. These figures are particularly pleasing because the global environment has not improved and is anything but easy.

Production Porsche 918 Spyder images leak out of Chinese patent office

A few images of what looks to be the production Porsche 918 Spyder are here to say hello, courtesy of a patent office in China. If these provide an accurate look at what the hybrid supercar will look like, there are a few differences between it and the latest examples of the pre-production prototypes our spy shooters have seen.
The jerry-rigged turn signals inside the headlight enclosures and on the front fenders on the prototype are replaced with more polished units inside the headlamps located underneath the main beams. Behind that, the door handles have been swapped from horizontal latches on the door to vertical openings located just behind the door shutline.
We've also seen a Martini-liveried version of the 918 Spyder that has extra carbon elements that don't appear on this car. It was at the Nürburgring with carbon lips on the front fenders and another carbon element that hung from the rear fenders and ran down to the rear diffuser. When we saw the car on our Deep Dive piece, the front lips were gone but that rear piece remained, and we can't tell from the brochure and options sheet that we've seen so far what it comes with. The wheels from the concept and the green brake calipers, minus the polycarbonate covers, should be the standard fitment while the ten-spoke magnesium wheels will be a 29,750-euro (about $39,000 US) option.