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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

Audi rumored to ditch Le Mans, DTM for F1

If you've been scratching your head wondering how - between Audi and Porsche - the Volkswagen Group could possibly support two rival top-tier LMP1 programs at Le Mans and the FIA World Endurance Championship, but stay out of Formula One entirely, you're not alone. In fact, Porsche was said to have been eying an F1 entry if Audi had internally blocked aspirations to return to Le Mans. But according to the latest rumors, it's Audi that's now preparing to shift away from endurance racing and onto the grand prix circuit.
Word has it that, following internal pressures from within the VW Group, Audi is finally gearing up for a full assault on F1. It's said to be developing a new six-cylinder turbo hybrid power unit - potentially at its new racing headquarters in Neuburg - and, in an expanded partnership with Red Bull, either take Renault's and Infiniti's places with the Red Bull Racing team or take over the Toro Rosso team entirely.
Although Ingolstadt has not campaigned in grand prix racing since the pre-war days of the Silver Arrows, it was said to have been the impetus for the FIA's push a couple of years ago for new four-cylinder engine regulations until Audi bailed on the idea altogether and F1 went for six-cylinder engines instead.

Audi E-Tron vs. Jaguar I-Pace and Tesla Model X: How they compare on paper

The all-electric crossover segment is suddenly heating up. Tesla was first to market with its Model X, and the California-based automaker has a several-year head start on the rest of the field. But now it has competition, with the Jaguar I-Pace already hitting dealerships across the globe and the just-announced Audi E-Tron hot on their heels. We decided to see how Audi's new entrant compares with its British and American rivals, so we downloaded their spec sheets (at least those that are available) and dumped them all into the spreadsheet you see below. As you'll soon find out, there are lots of similarities between these three electric crossovers, but each has a unique selling point or two with which to entice buyers. View 24 Photos Performance Note that we're using the Tesla Model X 75D for this comparison, since that's the model that is closest in price to the Jaguar and Audi entries. If you really want the fastest and most powerful electric CUV available, you're going to want to look at Tesla's ludicrous P100D model, but you'd better be willing to just about double the price you see in the chart above. With that out of the way, these particular electric crossovers are all pretty quick. The Jaguar boasts the quickest 0-60 time, but in the real world, that half-second advantage over the 75D won't amount to much. The Audi is a full second behind the Jaguar, and a little over a half second slower to 60 than the Tesla. A 5.5-second 0-60 time, though, still means the E-Tron will be able to squirt away from traffic lights quicker than the rest of the morning commuters. As far as battery capacity, Audi leads the way with 95 kWh, which is 5 more than the Jag and a whopping 20 more than the Tesla. Until we get estimated range figures, though, we won't know what the extra capacity means in the real world. In other words, stay tuned. View 74 Photos Exterior and interior dimensions The Jaguar is the smallest of these three 'utes, inside and out. The Tesla Model X is the largest. Does that make the Audi just right? Maybe, but only if you don't need a third row — the Model X is the only one of this trio that offers seating for six or seven passengers (depending on whether the buyer opts for a second-row bench or individual chairs). A smaller size may be a boon for drivers who often have to fit into tight spaces, but those slinky dimensions mean the Jaguar's cargo capacity is well behind that of the Audi and not even close to the cavernous Tesla. Tesla Motors Inc.