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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

Volkswagen rolls out all-new Polo R WRC

Volkswagen may have ruled out producing a road-going Polo more potent than the new GTI, but on the rally stage, the Polo R WRC has proven absolutely dominant. Introduced to the World Rally Championship in 2013, the Polo R won ten out of the baker's dozen rallies in its debut season, and all but one last year to win both titles two years running. That's quite an act to follow, and the task falls to the machine you see here. The new second-generation Polo R WRC was just revealed at Autostadt in Wolfsburg. The rally machine has been substantially reworked for 2015, with a new livery, new bodywork and new oily bits. In fact, Volkswagen says it has revised three quarters of the components, and while it has not yet detailed the "many new ideas [implemented] under the bonnet," it has identified the hydraulic gearbox as "the biggest innovation." Further details are still to come, but this is our first look at the new machine with which Sebastien Ogier, Jari-Matti Latvala and Andreas Mikkelsen – who finished last year's championship in first, second and third, respectively – will tackle this year's championship, starting with the Rally Monte Carlo on January 22-25. FIA World Rally Championship (WRC) New technology, new design: presenting the second generation Polo R WRC - World premiere of the 318-hp Polo R WRC in Wolfsburg - Member of the Board, Dr. Heinz-Jakob Neusser, launches title defence - WRC kicks off with the iconic Rally Monte Carlo from 22–25 January Wolfsburg (15 January 2015). In top form, both technically and visually: Volkswagen presented the second generation of the Polo R WRC in Autostadt, Wolfsburg. The works team from Wolfsburg has its sights set firmly on another successful defence of its titles in the FIA World Rally Championship (WRC) with a new car and a new look. Volkswagen completed a clean sweep of all the World Championship titles when the Polo R WRC made its debut in 2013, before repeating this impressive feat last season. Continuity is the key to the driving line-up for 2015: double world champions Sebastien Ogier/Julien Ingrassia (F/F) and team-mates Jari-Matti Latvala/Miikka Anttila (FIN/FIN) and Andreas Mikkelsen/Ola Floene (N/N) will roll down the starting ramp and head onto the first special stage of the year for Volkswagen at the legendary Rally Monte Carlo on 22 January. "The new Polo R WRC has undergone intense further development, both on the inside and the outside," said Dr.

Recharge Wrap-up: Tesla Model S full speed, Pheonix EVs at LAX

A Tesla Model S driver shows what it's like to maintain about 125 miles per hour on the German Autobahn. In the video, Bjorn Nyland records his trip from a stop at a Supercharger 25 miles to the Danish border while driving about 200 kph for about 12 minutes. Upon entering the Autobahn, he hits the limiter at about 212 kph, or almost 132 mph. As he's driving, the car's estimated driving range adjusts for his speed, and he quickly loses quite a few miles. He doesn't care, though. He's having fun. See the video above, and read more at Inside EVs. Phoenix Cars has provided an Electric Shuttle Bus to an airport parking company at the Los Angeles International Airport. As LAX's first electric shuttle bus, it is expected to run two shifts seven days a week, saving more than 60 tons of CO2 emissions yearly. The electric shuttle bus will be on display from June 29 to July 2 at the International Parking Institute Conference and Expo in Las Vegas. Phoenix also recently supplied its ZEUS electric flatbed to the US Navy. Read more in the press release below. Ballard will operate a fleet of eight hydrogen-powered buses in London for an additional five years. Transport for London uses the buses, powered by Ballard fuel cell technology, for its central Covent Garden-Tower Gateway route. The first five buses went into service in 2010 as Transport for London aimed to reduce CO2 emissions by 60 percent from 1990 levels by 2025. The three additional buses joined the fleet in 2013. "This contract extension is a positive endorsement of zero-emission fuel cell technology in transit applications, based on the demonstrated performance of these buses over the past five years," says Ballard Chief Commercial Officer Steve Karaffa. "Clean transportation is a growing concern for transit authorities globally and our fuel cell modules deliver a proven solution." Read more from Ballard. Volkswagen and SAIC are expanding electric vehicle operations in China. The partners will expand the main Shanghai Volkswagen plant to build electric vehicles. "Over the next four years, we plan to localize more than 15 different electric vehicle models in China, including plug-in hybrids and fully electric vehicles," says Volkswagen's Prof. Dr. Jochem Heizmann. Volkswagen will also step up fuel cell and plug-in hybrid research in China. In about four years, Volkswagen will build a new EV, based on the popular Lavida, at the Anting plant outside of Shanghai. Read more from Volkswagen.