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Former Porsche boss Wiedeking won't face criminal charges over VW bid

Hedge fund managers have been suing Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.
Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.

Weekly Recap: Porsche embarks on Mission E

Porsche's board of directors approved the company's first all-electric car Friday, signing off on production of the eye-catching Mission E concept that debuted in September at the Frankfurt Motor Show. It's set for launch by the end of the decade. The Frankfurt concept uses lithium-ion batteries to power two synchronous motors that create more than 600 horsepower and provide a range of 311 miles on the European cycle. It's capable of hitting 62 miles per hour in 3.5 seconds and can run the Nurburgring Nordschleife in less than eight minutes. In a statement, Porsche board chairman Oliver Blume called the Mission E the "beginning a new chapter in the history of the sports car." Porsche is backing that up with a roughly $1.1-billion investment that will create more than 1,000 jobs at its facilities in Zuffenhausen, Germany. The company will spend more than $760 million at its main site there to build a paint shop and a new assembly plant. It will also expand an engine factory to make electric motors. Porsche's renewed electric ambitions come as it grapples with fallout from parent company Volkswagen's diesel-emissions scandal. Porsche uses a VW diesel engine in the Cayenne SUV, which it stopped selling in November until a fix is found. Still, Mission E's scheduled landing could be as much as four years away – when Porsche and VW hope their diesel woes will be long over. The electric strategy is clearly a long play to provide its enthusiast owners with an efficient form of sport and luxury as fuel economy and emissions regulations tighten around the world. And if you still can't wrap your head around electric Porsches, the company also just announced plans to make the 911 Turbo and Turbo S even more powerful. Electric propulsion is part of Porsche's future, but for now at least, it isn't everything. OTHER NEWS VW sales crash 25 percent in November Finally, the other shoe dropped. Volkswagen sales plummeted 25 percent in November as fallout from the company's diesel-emissions scandal finally showed up on the sales charts. VW had managed to tread water with flat sales through September (the scandal broke more than halfway through the month) and October. The company stopped selling its 2.0-liter I4 and 3.0-liter V6 diesels as it works to make the engines complaint with emissions rules. VW admitted to rigging its diesel-powered cars so they could pass emissions tests in the United States and around the world.

Ford Mustang Shelby GT350R named Road & Track Performance Car of the Year

With a 526-horsepower, 5.2-liter V8 that roars to 8,250 rpm, it's really hard to consider the 2016 Ford Shelby Mustang GT350R an underdog in any fight. However, the Shelby held the lowest as-tested price and was only middle of the pack in terms of power in Road & Track's 2016 Performance Car of the Year challenge. The 'Stang's numbers clearly didn't tell the whole story about the potent coupe because Ford's muscle car grabbed the title in this year's test. A model needs to be new or significantly updated to be eligible for the honor, and R&T found an impressive slate of eight candidates this year. The challengers included the Bentley Continental GT3-R, Cadillac ATS-V Coupe, Chevrolet Corvette Z06, Dodge Viper ACR, Mercedes-AMG GT S, and Porsche Cayman GT4. The Ferrari 488 GTB was the most expensive of the bunch with an as-tested price of $347,942, which is five times more than the Shelby. Once the group was together, R&T hustled them over curving roads and on the National Corvette Museum Motorsports Park. There was a lot to love about the Shelby, even in this impressive crew. "With a flat-plane crank and Sport Cup 2 tires, the GT350R is a Mustang turned up to 11," editor-in-chief Larry Webster said in the announcement of the results. The GT350R joins some great company. Past winners include the Porsche 911 GT3 last year and the Corvette in 2013. For some fantastic photography and the complete appraisal of these performance machines check out R&T's website for the full story. Related Video: ROAD & TRACK NAMES THE FORD MUSTANG SHELBY GT350R THE 2016 PERFORMANCE CAR OF THE YEAR New York, NY (November 9, 2015) – Road & Track today named the Ford Mustang Shelby GT350R the 2016 Performance Car of the Year, beating out seven of the world's best new sports cars. The article appears in the December/January issue, on newsstands November 17, and on RoadandTrack.com. "With a flat-plane crank and Sport Cup 2 tires, the GT350R is a Mustang turned up to 11," said Larry Webster, editor-in-chief of Road & Track. "Not only does the car have soul and harness so much firepower with such ease, but the real achievement here is that it's so approachable. It's a car you can't help but love." The Mustang Shelby GT350R was the winner by a runaway vote.