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Former Porsche execs charged with stock manipulation in Germany

The ongoing indictment of top Porsche executives for alleged stock manipulation during the attempted takeover of Volkswagen has taken years to reach an actual decision, but a trial date has finally been set for October 22. In addition to former CEO Wendelin Wiedeking (pictured above) and ex-CFO Holger Haerter, prosecutors have also added Anton Hunger, who was communications boss at the time, to the list of those charged, according to Reuters. The men purportedly made false statements to investors about plans to acquire 75 percent of VW stock. The prosecutor also dropped charges against Ferdinand Piech and Wolfgang Porsche in the same case, Reuters reports. The two Porsche family members were on the company's board at the time, but investigators found that they had no role in making the false statements. If found guilty, the former Porsche execs could face up to five years in prison. As expected, lawyers for Wiedeking and Haerter have repeatedly denied any wrongdoing by their clients. The investigation into Porsche SE's actions during the failed VW takeover go back to at least 2009 when the firm's offices were raided. Wiedeking and Haerter were eventually indicted in 2012. A Stuttgart court initially dismissed the case for lack of evidence, but in 2014 that decision was reversed on appeal. At the same time, investors have brought multiple civil lawsuits against the company, but none of those cases have been successful.

2023 CES Editors' Picks

Over the past few years, it has become more and more clear that the Consumer Electronics Show is a car show. And this year that reality is more clear than ever. Not only did established automakers show off seriously important vehicles, but a traditional electronics company brought a car that gives an idea of its intents (with the help of establishment car company). With so many car reveals, we had to rank our favorites. Our picks for this show are entirely electric. Or at least, they are on paper, since many are concepts. Considering the name of the show, it would be a little strange if they weren't. In fact, not only are many of our favorites concepts, they all are save for one. See how they shook out below. VW ID7 camo View 28 Photos 5. Volkswagen ID.7 "The ID.7 definitely got lost in the crowd at CES. That it was camouflaged definitely didn't help, even if that camo was electroluminescent (BMW trumped it big time with its color-changing Dee). Nevertheless, this is a close-to-production hatchback-ed sedan, not unlike today's Arteon, with an extra-long wheelbase courtesy its EV architecture. It should be a solid answer to the Tesla Model 3 and Hyundai Ioniq 6, and even if people obviously prefer SUVs now, VW says there is still a market for sedans. I know I'd probably prefer one." –Senior Editor, West Coast and Reviews, James Riswick Peugeot Inception concept View 12 Photos 4. Peugeot Inception "It's not often that show debuts surprise us. While Peugeot teased the Inception ahead of CES, its unveiling seemed almost incidental. But just look at this thing; it's like an electric French Mustang with someplace important to be. I don't buy into the stupid 'It's not a wheel!' thing that Peugeot CEO Linda Jackson described as providing a video-game-like drive experience, but that bit of silliness aside, this is a really promising design study. Give us more of these and fewer tall boxes, please." –Associate Editor Byron Hurd Afeela prototype from Sony Honda Mobility View 11 Photos 3. Afeela by Sony Honda “Ever since Sony showed off an impressively put-together concept car at CES a few years ago, IÂ’ve been anticipating the companyÂ’s next move. Apparently, that next move is “Afeela.” No, I donÂ’t love the name. The specs from SonyÂ’s original concept car give me hope that this prototype sportback (itÂ’s a hatchback!) will be fun to drive, though.

Regulators consider adding more carmakers to Takata recall

Volkswagen's diesel emissions scandal has been getting a lot of press recently, but the Takata airbag inflator affair could be grabbing headlines again soon. According to Bloomberg, the National Highway Traffic Safety Administration is contemplating an expansion to the campaign that could add seven automakers to the 12 already affected. They are Jaguar Land Rover, Mercedes-Benz, Spartan Motors, Suzuki, Tesla, Volvo Trucks, and VW Group. To be clear, there's no recall for any of these automakers, yet. The government is simply asking for a full list of vehicles that each of them have with Takata-supplied inflators containing ammonium nitrate propellant. The agency is concerned this substance could play a roll in the ruptures. "NHTSA is considering not only whether to issue an administrative order that would coordinate the remedy programs associated with the current Takata recalls, but also whether such an order should include expansion of the current recalls," the letters say. All seven can be viewed, here. From a report supplied by Takata, the government already knows that the company supplied 887,055 inflators with ammonium-nitrate propellant to VW and 184,926 of them to Tesla. In an incident during the summer, a side airbag allegedly burst in a 2015 VW Tiguan. In early September, NHTSA put out a revised report that there were 23.4 million inflators to be replaced in 19.2 million vehicles in the US. An earlier accounting from the agency had about 34 million of the parts in 30 million cars. High humidity is still believed to be among the biggest risk factors for the ruptures. Although, if ammonium nitrate also gets the blame, some already recalled models might need to be repaired again. Related Video: