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Investors storm Volkswagen with $9 billion in lawsuits

Volkswagen's investors are latest group to take up pitchforks against the embattled automaker, and they're seeking $9 billion in damages, Reuters reports. The investor lawsuits were filed in a court in Braunschweig, Germany, near Volkswagen's Wolfsburg headquarters. On Monday, the first business day following the anniversary of the emissions revelations, the court received 750 lawsuits alone. All told, about 1,400 lawsuits have been filed. The largest single claim totals $3.7 billion and was filed more than six months ago. The lawsuits stem from complaints that Volkswagen didn't divulge information on the cheating software to investors quickly enough. Volkswagen has said that it hasn't broken any capital market laws. The $21.5 billion the company set aside to weather the storm may not be enough. The consumer fix is estimated to run the company $14.7 billion, either through buybacks or a fix that still seems unclear. In addition to the lawsuits, Volkswagen CEO Matthias Mueller confirmed that Audi boss Rupert Stadler is under investigation regarding the scandal. Mueller refused to give further details, but this shouldn't come as a surprise to anyone. Audi has admitted that its 3.0-liter V6 was equipped with the same emissions-cheating software as the 2.0-liter four-cylinder diesels. Stefan Knirsch, Audi's head of development, has been suspended as part of the overall investigation. Knirsch took over duties after his predecessor quit. Knisch was previously head of engine development at Audi. Related Video: News Source: Reuters Green Hirings/Firings/Layoffs Audi Volkswagen Emissions Diesel Vehicles vw diesel scandal

Volkswagen Group's Vision 2030 strategy could bring revolution to the brands

One would expect a corporate plan called "Vision 2030," looking 11 years ahead through wildly tumultuous times, to involve great change and numerous forks in numerous roads. According to Automobile's breakdown of Volkswagen's path forward, though, the plans contain some lurid potential surprises. The ultimate aim is return on investment, and that means ruthless reorganization of a conglomerate with eight primary car brands, two car sub-brands, and Ducati motorcycles. The first two Vision 2030 cornerstones Automobile mentions are near boilerplate: Production network restructuring, and "streamlining of key technologies." The latter two are the ones that could upend what we know as the Volkswagen Group: focusing on the Group's core brands — meaning Audi, Porsche, and VW — and transitioning to EVs, autonomy, and other mobility solutions. Based on the report, a quote from Audi's CTO referring to the Audi brand could cover how the Group plans to handle all of its brands: "We need to find a sustainable solution for the indefinite transition period until EVs eventually take over." The boutique divisions adjacent to carmaking, Ducati and Italdesign, look likely to be spun off. For the halo car brands — Bentley, Bugatti, and Lamborghini — apparently shareholders want double-digit returns on investment, and the trio doesn't have long to hit the target. One eyebrow raiser is when the report states, "Bugatti is tipped to be gifted to [ex-VW Group Chairman] Ferdinand Piech." Piech fathered the Veyron during his tenure at VW, and it was thought he commissioned the La Voiture Noire, but he's lately stepped so far back from VW that he sold all his shares in the Group. Automobile quoted a senior strategist as saying of money-losing Bentley, "Why invest on a backward-looking enterprise when you can support a trendsetter? A proud history and excellent craftmanship alone don't cut it anymore." We guess no one at Ferrari, McLaren, or even Porsche got that memo. Bentley is reportedly close to being put in time out, and if brand CEO Adrian Hallmark can't right the Crewe ship, the hush-hush Plan B is to prop the Flying B up enough to lure a buyer. As for Lamborghini, caught between two masters at Audi and Porsche, even record-breaking numbers at the Italian supercar maker barely staved off sacrilege. It's said that VW brand CEO Herbert Diess considered putting a 5.0-liter Porsche V8 into the Aventador successor.

Audi's Q8 Concept previews a 2018 personal luxury crossover

Audi revealed the Q8 Concept here at the 2017 Detroit Auto Show, and it's just as we expected: a Q7 with frameless windows, an oversized grille, and a rakish "coupe-like" roofline. This concept is an exaggerated example of a vehicle that will almost certainly enter production to do battle with BMW's vanity luxury utility, the X6, and Mercedes-Benz's GLE Coupe. The coupe moniker doesn't really apply, despite the German automakers' best attempts to redefine the word, but otherwise the Q8 Concept delivers. It's two inches shorter overall than a contemporary Q7, on a similar wheelbase, so the basic proportions of the thing should make the jump to production. View 14 Photos The driveline is equally plausible: a plug-in hybrid setup pairing a 3.0-liter TFSI V6 with a 17.9-kWh lithium-ion battery. The concept's V6 hypothetically makes 333 horsepower and 368 lb-ft of torque, and a single electric motor integrated into the eight-speed automatic transmission adds 100 kW (134 hp) and 234 lb-ft of torque to the mix. Those numbers certainly make sense, considering the gas Q7 makes 333 hp (albeit with a supercharger) and the existing Q7 e-tron, which isn't sold here, pairs a 17.3-kWh battery with a diesel V6. Since this is a concept, production intent or no, the range numbers are also a little theoretical, but here's what Audi claims: a 60-mile EV range, and a total range of around 621 miles. Not shabby if you're taking a long road trip. The adaptive air suspension should also make it a comfortable one. Inside, this is a four-place vehicle; no third row, and no center rear seat, as is the trend with these things. The cabin is very clean and modern – typically Audi, although exaggerated a bit. Expect it to be toned down some for production, but this concept interior is a glimpse into the future. We'll have to wait until next year to see something closer to production-ready, but it's coming. Related Video: Related Gallery Audi Q8 Concept View 30 Photos Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog Green Detroit Auto Show Audi Crossover SUV Concept Cars Future Vehicles Hybrid Original Video 2017 Detroit Auto Show