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UPDATE: Porsche could raise its stake in Rimac, and Rimac weighs in

CLARIFICATION: An earlier version of this Reuters story said Porsche could raise its stake in Rimac to nearly 50%, but Rimac reached out to Autoblog to say that's not so. Here is a statement from Mate Rimac: "We have a very strong partnership with Porsche that is key for Rimac Automobili. Porsche is a shareholder in Rimac since 2018 with 15.5% ownership currently, accumulated over several rounds of investment. While it is true that we are discussing further expansion of this collaboration that will lead to increase of Porsche's stake in Rimac Automobili, some media have mistakenly reported that Porsche would take over 50% or nearly 50% of the company.   We are very happy that the partnership with Porsche will strengthen even further, but it is in the interest of both Rimac and Porsche that Rimac is a fully independent company. We are working with many car companies that are not our shareholders and there is a clear separation between shareholding and projects. It is very important to us that our industry customers have the peace of mind that Rimac is independent and that there is an "Information Firewall" between projects and shareholders (not only Porsche, but also Hyundai and others) - and this will not change. Confidentiality is very valued in the industry and one of the basics for collaboration between companies. Our shareholders are happy with such an arrangement and expect the same level of professional behaviour and confidentiality for their projects and customer projects.   So, the point is: Porsche's stake will increase but nowhere near to 50% and Rimac will remain independent with many industry customers that are not our shareholders/investors." The original story, with the 50% reference removed, appears below.   FRANKFURT — Volkswagen unit Porsche is participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner Mate Rimac told weekly Automobilwoche. The fundraising should be completed in two to three months and another round is planned at the end of the year, Rimac told the trade journal. Porsche owns a 15.5% stake in Rimac Automobili and could raise its stake in a deal that would also include the transfer of Volkswagen's supercar brand Bugatti to Rimac, Automobilwoche said. Volkswagen and Rimac were not immediately available for comment on Sunday.

Investigators blame speed in fatal Paul Walker crash

When the tragic news first came in that actor Paul Walker had been killed in a car crash, family, friends and fans were left searching for answers. They now have at least one key question answered, with the Los Angeles County Sheriff's Department blaming "unsafe speed" for the fatal accident.
According to a statement released by the LACSD, "Investigators determined the cause of the fatal solo-vehicle collision was unsafe speed for the roadway conditions". The investigation into the November, 2013 crash determined that Walker's 2005 Porsche Carrera GT had been driven by his business partner and racer, Roger Rodas, at speeds between 80 and 93 miles per hour - less than the 100+ mph initially suspected, but still far too fast for the road on which they were traveling, which carried a posted limit of 45 mph.
In the investigation into the death of the Fast & Furious star and his friend, some people were quick to finger the Porsche in which they were riding as the culprit. The Carrera GT does, after all, have the reputation of being a notoriously difficult car to control. But after an exhaustive investigation, law enforcement officials in California have vindicated the car and dismissed any mechanical fault as the cause of the accident.

VW Group plan puts Porsche in charge of a 'super-premium' division

An Automobile report looks into what's happening on the organizational and technical sides of the Volkswagen Group, and what those changes could mean for the premium brands. The wide-angle view is that Porsche appears to have been anointed to "coordinate the future activities" at Audi, Bentley, Bugatti and Lamborghini. Audi would cede Lamborghini guardianship to Stuttgart, and Ducati — via a new concern called Ducati Enterprises — would become the shepherd for VW's other Italian investments. Executives target Jan. 1, 2019, to complete the reshuffle. VW wants to save a boodle by tying up four of its five top-tier brands, and putting the one with the highest ROI in charge. Porsche, within its own house, wants to reduce expenditures by $2.3 billion per year over for four years, the savings already earmarked for improving internal processes like R&D and production. Having Porsche share those gains as well as lead development of platforms, components and future-tech strategies for the sister sports car brands could benefit everyone. In the near-term, the brands have their own plans: Bugatti CEO Stephan Winkelmann is said to want a Chiron Superleggera, a roofless and "completely reskinned" Chiron Aperta, and a track-only Chiron SS. The Superleggera could take the Chiron Sport's and Divo's Jenny Craig routines even further. The Aperta seems a natural successor to the Veyron Grand Sport, a natural evolution of the recently introduced Sky View roof, and a reskin might include numerous Divo cues. It's also said Bugatti's considering "an all-electric high-end model" in conjunction with Porsche, Rimac, and Dallara, but name one supercar or hypercar manufacturer that isn't considering a lightning-fast EV. Lamborghini, deep into work on follow-ups for the Huracan and Aventador, might get a bit of a bump with the new plan. The carbon "monofuselage" for the next V12 flagship is said to be too far developed and too complex to scrap. It puts two electric motors on the front axle, batteries in the middle, and a naturally aspirated V12 with around 770 horsepower plus another e-motor with 402 horsepower in back. The Huracan is said to get a version of the same carbon architecture at the moment, but the corporate reorganization might press pause on it. Automobile says options include continuing the Huracan/ Audi R8 twinning, but that depends on Audi saying "Ja" to a third-gen R8 with Lamborghini bones.