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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

EPA message to automakers: You're on notice

With top administrator Gina McCarthy speaking about the "moral obligation for climate action" on Friday, the Environmental Protection Agency announced it would ramp up its oversight of the auto industry in the wake of Volkswagen's emissions cheating. In a letter sent to manufacturers Friday, the agency said it would begin examining cars to see whether they contained defeat devices "in addition to the standard emissions test cycles." "We are putting vehicle manufacturers on notice." Exactly how the agency plans to test for these devices – which are not devices per se, but algorithms contained in millions of lines of software code that govern vehicle functions – remains unclear. Christopher Grundler, the director of the EPA Office of Transportation and Air Quality, divulged few details in how the agency would uncover so-called defeat devices used by cheaters. "Not today – or actually ever – I'm not going to be describing what new ways we'll be using to detect these defeat devices." Later, he said engineers will have to "come up with some clever ways to do this." The only insight he offered was that the EPA, California Air Resources Board, and Environment Canada would partner on testing more cars for emissions and anomalies. Grundler also said the EPA would diversify its testing fleet. In addition to relying on vehicles provided by manufacturers, the federal agency will now also borrow cars from "private citizens" and utilize rental cars for tests. "We are putting vehicle manufacturers on notice," he said. Joint investigations between EPA and CARB have "been very successful in protecting human health and the environment," said Janet McCabe, the agency's acting administrator in the Office of Air and Radiation. "But we also know, and the Volkswagen violations before us now make it clear, we need to adapt and step up our oversight." That may include an increase in on-road testing in addition to the five emissions tests now more relied upon. The EPA owns and maintains 23 portable emissions-monitoring systems like the one used by West Virginia University researchers who first detected elevated levels of nitrogen oxide emissions from two Volkswagen diesel vehicles. Right now, they're almost exclusively deployed to monitor emission from heavy-duty vehicles, whose NOx emissions "dwarf" the amount produced by light-duty vehicles, which produce less than 2 percent of the total, according to the agency's figures.

2022 VW GTI, Golf R and Ford's electric future | Autoblog Podcast #680

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start off discussing their drives in the 2022 VW GTI and 2022 VW Golf R. They then discuss the news, which is jam-packed this week. The Mazda6 and CX-3 are going away, and Alfa is reportedly mulling a new GTV and Duetto. Plus, Ford teased an electric Bronco, confirmed a future electric Explorer and fully revealed the work truck version of the 2022 F-150 Lightning named the "Pro." They end by turning to the mailbag and responding to another listener's Spend My Money question. Autoblog Podcast #680 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2022 Volkswagen GTI 2022 Volkswagen Golf R News Mazda6 and Mazda CX-3 officially discontinued for 2022 Alfa Romeo's new CEO sees room to bring back the GTV and the Duetto Electric Ford Bronco could be coming, electric Explorer is confirmed F-150 Lightning Pro revealed as Ford's sub-$40K electric work truck Opinion We need to legalize adaptive driving beams already, for safety's sake Mailbag Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: Podcasts Alfa Romeo Ford Mazda Porsche Volkswagen Hatchback Performance