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Former Porsche execs acquitted of stock manipulation charges

A German court acquitted former Porsche CEO Wendelin Wiedeking and former CFO Holger Harter of stock manipulation charges, according to Bloomberg. Prosecutors alleged the men hid plans to takeover Volkswagen while publicly denying their intentions to investors. The presiding judge didn't find any merit to those claims, though. "There is nothing to the allegations, absolutely nothing," Judge Frank Maurer said, according to Bloomberg. "There was no secret plan to take over VW." Rather than Porsche taking over VW, the exact opposite eventually happened, and both execs stepped down. Investigators first indicted Wiedeking and Harter for alleged stock manipulation in late 2012. A court in Stuttgart dismissed the case in 2014 because of a lack of evidence, but an appeals court later overruled that decision. The current trial finally began in October 2015. If convicted, Wiedeking faced up to 30 months in prison, and Harter could have received up to 27 months, Bloomberg reported. Prosecutors also wanted one million euro ($1.1 million) fines from them and 807 million euros ($910 million) from Porsche. The acquittal might not be the end of this long-running case, though. In Germany, prosecutors have the right to appeal a ruling, and the lawyer hasn't made a final decision yet. If the court thinks there's a reason, the former execs could be back in front of a judge at some point in the future.

J.D. Power: Vehicle dependability at all-time high, Lexus and Porsche lead

Each year, J.D. Power and Associates surveys original owners of three-year-old vehicles to find out what kinds of problems they have had experienced over the last 12 months, and then it uses this data to create its annual Vehicle Dependability Study. This means that the models in the 2013 study are 2010 model year vehicles, and J.D. Power rates each make as well as the top individual models based on how many problems were experienced per 100 vehicles (PP100).
Debunking the idea that carryover models are more dependable than new or updated models, the 2013 study found that the average carryover model experienced 133 PP100, while all-new or redesigned vehicles for the 2010 model year had 116 PP100; vehicles that received minor changes fared the best with just 111 PP100. The overall average for all makes was 126 PP100, which is the lowest figure since the findings were first issued in 1989.

Porsche doesn't think autonomous cars fit brand

Porsche customers have no need to worry because the company has no intention of taking away driver control by introducing autonomous tech for its vehicles. "One wants to drive a Porsche by oneself," company CEO Oliver Blume told a German newspaper, Reuters reports. For the sports car maker, this is a sensible decision, as its owners are driving enthusiasts who desire an exciting experience behind the wheel. Blume also isn't a big fan of people using their phones in the car. "An iPhone belongs in your pocket, not on the road," he told the newspaper. While Blume doesn't like some cutting-edge automotive tech, he's no Luddite. The CEO eventually wants every Porsche to be available with a hybrid powertrain option, including the 911. A plug-in version of the famous sports coupe could be ready by 2018 and have a 31-mile EV range (presumably on the European cycle), according to Reuters. The evidence suggests that Porsche is very serious about electrifying the 911. A company exec admitted the automaker had PHEVs under discussion. Spy shots (above) already showed one testing that possibly had a charger on the passenger side rear fender. The 911 PHEV would also follow logically from Porsche's recent surge to electrify its models. The Panamera and Cayenne already offer plug-in versions, and the 918 Spyder proves the system can perform. Applying that battery knowledge to the 911 is a natural move, especially with the fully electric Mission E taking another technological step forward around 2020. Related Video: