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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.

Porsche Macan Turbo gets a Performance Pack, because more power is better

The entire Porsche Macan lineup is turbocharged, but the Turbo (with a capital T) is the fastest, most powerful model. And now, thanks to a new Performance Package, the Macan Turbo solidifies its role as the benchmark. With the package, the Macan Turbo's twin-turbo 3.6-liter V6 gets bumped up to 440 horsepower (40 horsepower more) and 442 pound-feet of torque (an increase of 36 pound-feet). The increase results in a zero to 60 mph time of 4.2 seconds, which is 0.2 seconds quicker than the regular Macan Turbo, and a higher top speed of 169 mph, up five mph. The Macan Turbo was already quicker than its competition, but the new pack increases the performance gap between the Audi SQ5, Mercedes-AMG GLC43, and BMW X3. Opting for the Macan Turbo with the Performance Package also adds a lower suspension, upgraded brakes, and the makes the Sport Chrono Package equipment standard. The Performance Pack also adds more options, including 21-inch wheels similar to the Porsche 911 Turbo's, LED headlights, and various trim that can be finished in black. The interior also gets a sportier touch with the addition of Alcantara touches and carbon-fiber pieces. The Macan Turbo with Performance Package is available now for $87,495 – or $10,445 more than a base Macan Turbo. As we said in our first drive of the Macan Turbo, it's an impressive machine. So while the Performance Package makes it even better, that's a lot of money for a slight increase in performance. Related Video: Featured Gallery 2017 Porsche Macan Turbo with Performance Package News Source: PorscheImage Credit: Porsche Porsche Crossover SUV Luxury Performance porsche macan porsche macan turbo

GoPro checks out Tokyo's automotive night life in 4K

There's something bizarrely fascinating about Japanese car culture, especially around Tokyo. The metropolis packs people tightly together in a way that would seem to make owning any car tough. And yet, there's still enough enthusiasm around anything with an engine to support everything from wildly tuned bosozoku rides with exhaust pipes reaching toward the sky to seriously fast Porsche and Lamborghini models. To promote its latest Hero4 camera, GoPro has embarked on a short film series called Adventure of Life in 4K, and the latest installment goes inside Japan's speed scene with some gorgeous cinematography of vibrant vehicles rocketing through the city. It's all mixed over more serene images of Tokyo landscapes that combine to form a mini-documentary that's a feast for the eyes. News Source: GoPro via YouTube Aftermarket Lamborghini Porsche Videos gopro