1974 Volkswagen Beetle on 2040-cars

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$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

Germany says nein to EU ban on new fossil-fuel cars from 2035

BERLIN (Reuters) - Germany's government will not agree to European Union plans to effectively ban the sale of new cars with combustion engines from 2035, Finance Minister Christian Lindner said on Tuesday. In its bid to cut planet-warming emissions by 55% by 2030 from 1990 levels, the European Commission has proposed a 100% reduction in CO2 emissions from new cars by 2035. That means it would be impossible to sell combustion engine cars from then. European Parliament lawmakers backed the proposals this month, before negotiations with EU countries on the final law take place. Speaking at an event hosted by Germany's BDI industry association, Lindner said there would continue to be niches for combustion engines so a ban was wrong and said the government would not agree to this European legislation. Lindner, a member of the pro-business Free Democrats, which shares power with the Social Democrats and Greens, said Germany would still be a leading market for electric vehicles. (Reporting by Christian Kraemer; Writing by Madeline Chambers; Editing by Miranda Murray and Edmund Blair) Green Government/Legal Green Audi BMW Mercedes-Benz Volkswagen Opel SEAT Skoda

Will VW's rumored 186-mile EV battery be enough?

Just as there continues to be a horsepower war in the realm of performance cars, there's an ongoing battle over driving range among electric vehicles. Both the Tesla Model 3 and Chevrolet Bolt are promising around 200 miles for a relatively affordable price in or around 2017. Plus, Nissan is reportedly nearing a 250-mile Leaf for about the same time and Ford might be joining the game, too. Volkswagen might be the latest potential challenger with some extra distance possible from its future EVs. According to Hybrid Cars, Volkswagen Chairman Martin Winterkorn tells Bild in Germany that the company is developing a new generation of battery tech with major gains, and it could reportedly provide a range of around 186 miles. That's more than double the current 83-mile EPA certified range for the e-Golf but falls short of the projections from competitors. Winterkorn didn't indicate exactly when this innovation would be ready for production, though. Especially in recent months, the German automaker is making serious moves towards big advancements in battery tech, and the company's platforms are largely already prepped to become EVs. The entire VW Group is reportedly considering moving to a single, unified lithium-ion cell design, and that switch could cut component costs by as much as 66 percent. In late 2014, the German automotive giant also bought five percent of the US-based startup QuantumScape. That business has claimed a staggering 430-mile range from its fireproof, solid-state lithium batteries, but the proof will need to be seen on the road – and in whatever the competition is able to accomplish whenever a car is finally available.