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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.

Top Gear teases Porsche 918 vs McLaren P1 vs LaFerrari showdown

It's the comparison test we've been waiting over a year to come together: the hybrid hypercar showdown of the century between the McLaren P1, Porsche 918 Spyder and Ferrari LaFerrari. They've each got hybrid powertrains pairing eight or more cylinders with an electric motor to drive around 900 horsepower through seven-speed dual-clutch transmissions. They come from exotic automakers with rich racing pedigrees, and each costs around a million bucks. Leave it to the guys from Top Gear, then, to finally put it together. The story adorns the cover of this month's issue of Top Gear magazine, which arranged the showdown – not the television program that started it all. Fortunately, they didn't miss the opportunity to capture the action on video, which will be available to iPad subscribers – but whether you've got access or not, you can catch a short clip of the seven-figure hybrid hypercars right here. News Source: Top Gear via YouTube Ferrari McLaren Porsche Hybrid Supercars Videos porsche 918 spyder mclaren p1 ferrari laferrari

Lanzante building 11 Porsche 930 restomods with actual F1-raced engines

In " Casino Royale," James Bond gets a lesson in tailored clothing when Vesper Lynd gives him a new dinner jacket. Bond tell her he already has a jacket, and Lynd replies, "There are dinner jackets and dinner jackets. This one is the latter." News from Lanzante makes us paraphrase that line in saying, "There are 911 restomods and 911 restomods." Lanzante's is definitely the latter. The English engineering firm is building 11 Eighties-era Porsche 930s with genuine TAG-branded Porsche engines that the McLaren Formula One team used to win 25 races. From 1984 to 1987, Porsche built a 1.5-liter turbocharged V6, branded as the TAG-Porsche TTE P01, for the McLaren MP4/2 and MP4/3; if the naming seems odd to cover four years, it's because McLaren raced the MP4/2B and MP4/2C in 1985 and 1986. The engine produced more than 1,000 horsepower in qualifying trim, and 750 hp in race spec. In its first three years on the grid, the engine powered McLaren to two Constructor's Championships, and three Driver's Championships for Niki Lauda and Alain Prost. During that time, McLaren built a prototype Porsche 930 with that TAG engine, but kept it so far out of sight that people spoke of it as a rumor. The English carmaker finally proved the rumor true a few years ago when it put the prototype on display in the lobby of its Woking headquarters. Enter Lanzante, which has a history with McLaren going back to at least 1995, when it prepped the Veno Clinic McLaren F1 GTR that won Le Mans that year. More recently, it built road-legal P1 GTRs called the P1 GT, and a one-off P1 Longtail. McLaren sold Lanzante the 11 engines for this run of monstrously overpowered Porsche coupes, and Lanzante showed off the first example at the recent Rennsport Reunion at Laguna Seca — news that somehow got lost in the general Porsche overdose and Moby Dick revival. Built just like the original McLaren-Porsche prototype, no one will think anything's astray with the new version's white bodywork and RUF wheels. The camouflage continues inside, where a pair of upholstered racing buckets might offer a small clue. The instrument panel gives things away, containing a tachometer branded "TAG Turbo" with a 9,000-rpm redline, and a water temperature gauge. Cosworth is restoring the engines for the program, and each of the 11 examples gets a plaque in the engine bay listing its engine's race history.