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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.

Porsche doesn't think autonomous cars fit brand

Porsche customers have no need to worry because the company has no intention of taking away driver control by introducing autonomous tech for its vehicles. "One wants to drive a Porsche by oneself," company CEO Oliver Blume told a German newspaper, Reuters reports. For the sports car maker, this is a sensible decision, as its owners are driving enthusiasts who desire an exciting experience behind the wheel. Blume also isn't a big fan of people using their phones in the car. "An iPhone belongs in your pocket, not on the road," he told the newspaper. While Blume doesn't like some cutting-edge automotive tech, he's no Luddite. The CEO eventually wants every Porsche to be available with a hybrid powertrain option, including the 911. A plug-in version of the famous sports coupe could be ready by 2018 and have a 31-mile EV range (presumably on the European cycle), according to Reuters. The evidence suggests that Porsche is very serious about electrifying the 911. A company exec admitted the automaker had PHEVs under discussion. Spy shots (above) already showed one testing that possibly had a charger on the passenger side rear fender. The 911 PHEV would also follow logically from Porsche's recent surge to electrify its models. The Panamera and Cayenne already offer plug-in versions, and the 918 Spyder proves the system can perform. Applying that battery knowledge to the 911 is a natural move, especially with the fully electric Mission E taking another technological step forward around 2020. Related Video:

2015 Porsche Cayenne S

Oh, Porsche.
Just as the dust settles over the 911 GT3's no manual gearbox kerfuffle, the Germans have gone and yanked the yummy naturally aspirated 4.8-liter V8 from the Cayenne S and replaced it with a twin-turbo 3.6-liter V6. Is nothing sacred in Porscheland?
Perhaps not... but that's not necessarily a bad thing. After all, Porsche famously once said they'd never build a diesel, but when they did, it was actually rather stellar.