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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

Pick up your Porsche in Atlanta, get free track time

Want to pick up a new Porsche from the factory? That's an option, but you have to fly out to Germany and then have your car shipped back Stateside. If that sounds like too much globetrotting, Porsche Cars North America is now offering the next best thing at its new US headquarters. It even includes some extras you don't get with factory delivery. The company's New Vehicle Delivery program allows customers to order a new Porsche at their local dealership and then pick it up at the Porsche Experience Center at One Porsche Drive in Atlanta. After touring the facility, customers get acquainted with their new cars with help from an expert then lap the on-site test track for an hour and a half and grab lunch at the company's gourmet Restaurant 356. The best part is, unlike the many options Porsche offers, PEC delivery adds nothing to the price of the car. You will, of course, have to cover the gas to get back to wherever you and your car live. Porsche has already kicked off the program. The first participant, Tracy Blumenthal, came out from California to pick up her new Cayenne S E-Hybrid. As a special bonus for being the first customer, former Le Mans class winner David Donohue took her for a ride in the 918 Spyder. Sounds like a pretty good day, if you ask us, especially when you get to go home with a new Porsche at the end. Related Video: Porsche Launches New Vehicle Delivery Program at Experience Center in Atlanta April 25, 2016 Atlanta, Georgia. Porsche Cars North America has launched its New Vehicle Delivery program at the Porsche Experience Center (PEC) in Atlanta. The program enables customers to place a factory order for a new vehicle through any authorized Porsche dealer in the U.S. and take delivery directly from the experiential destination, located at One Porsche Drive in Atlanta. California forensic accountant and attorney Tracy Blumenthal was the first official customer to participate in the program today when she picked up her new Cayenne S E-Hybrid sport utility vehicle. "We are thrilled to launch the New Vehicle Delivery program as another premium offering at our Porsche Experience Center in Atlanta," said Andre Oosthuizen, Vice President, Marketing, for Porsche Cars North America.

Recharge Wrap-up: Ford's "snowtonomous" Fusion Hybrid, Porsche eyes battery makers

Bosch and Panasonic are vying to be the battery supplier for Porsche's electric sports car based on the Mission E concept. While Bosch's costs may be higher, its solution would offer simpler logistics. Panasonic is already well established as a battery maker, providing the packs for the Porsche car's rival, Tesla. "We're in the final stage of making a decision," says Porsche CEO Oliver Blume, declining to comment on specific manufacturers. Neither Bosch nor Panasonic provided comment. Read more from Automotive News. Renault will supply a fleet of 150 Renault Zoe EVs for a smart solar charging project in Utrecht, Netherlands. The project involves the installation of 1,000 EV chargers powered by 10,000 photovoltaic panels. The Renault Zoes would be used as part of a carsharing program powered by the solar chargers. Renault and its partners will also implement a vehicle-to-grid system to provide energy during peak demand from the solar chargers and connected EVs. Read more in the press release from Renault. Ford has been testing an autonomous Fusion Hybrid prototype that is capable of driving itself in snowy conditions. Ford uses 3D mapping to scan the drive route. Its LiDAR laser mapping can even detect single falling snowflakes. It collects and processes up to 600 gigabytes of data per hour, comparing its environment to saved maps, a process that helps establish location more precisely than GPS. In addition to the LiDAR systems, the car is also equipped with cameras and radar to help it navigate. Eventually, the car could even be able to clean off its sensors when it detects loss of performance from ice and dirt. Read more in the press release below. FROM AUTONOMY TO SNOWTONOMY: HOW FORD FUSION HYBRID AUTONOMOUS RESEARCH VEHICLE CAN NAVIGATE IN WINTER DEARBORN, Mich., March 10, 2016 – Driving in snow can be a slippery challenge, with the potential for one blizzardy gust to white-out your field of view – a situation faced by the majority of people in the United States. So if self-driving cars are to become a reality – and they almost certainly will – they must be able to navigate snow-covered roads. In its quest to bring self-driving vehicles to millions of people around the world, Ford reveals six facts about its technology that allows for a car to drive itself in snow. 1. Mapping the way: Ford first creates high-resolution 3D maps using LiDAR technology to scan the area its autonomous vehicle will later drive in the snow.