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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Daily Driver: 2015 Volkswagen CC

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers that drive them every day. Today's Daily Driver features the 2015 Volkswagen CC Executive, reviewed by Seyth Miersma. You can watch the video above or read a transcript below. And don't forget to watch more Autoblog videos at /videos. Show full video transcript text [00:00:00] Hi, guys. This is Seyth with Autoblog, and I'm driving the 2015 Volkswagen CC. The version of the car I'm in is the VR6 4motion car, so it's got a six-cylinder engine and all-wheel drive. This six-cylinder is actually a little bit of an odd duck at this point for the class. It's a 3.6 liter V6. It makes 280 horsepower, 265 pound-feet of torque. It's really living in a world that's been [00:00:30] overtaken by potent, two-liter turbos. I think something that's particularly difficult, especially in light of what I know about the Volkswagen family, the new engines getting great fuel economy. The 1.8T and obviously the TDI are real champs in that regard. Unfortunately, this VR6 is really sucking down the premium. These days, a 20 MPG combined rating is not particularly good. This definitely isn't a sports car. If you throw it hard into a corner, it leans a little bit, you can feel some roll [00:01:00] through the suspension. Handling is tidy, but it's not particularly precise. Of course, it's not really meant to be. This is a car that's meant to be great on the highway, great cruiser, look pretty stylish, and with a good powertrain, it can be exciting enough. Because you're not getting anything else that's very sports car-like about this car, other than the power delivery, and even there it's not quite on-pace with some of the sporty sedans that you can buy for right around the same money. It just makes for an interesting mix; something that's a little bit fast, [00:01:30] not very fuel-efficient, not a great handler, not a premium badge. Let's cut down right to it. This car is $44,400 and some change. Again, the VR6 4motion Executive Trim level, which means it pretty much gets everything you can get in a CC. We've got leather seats; they are heated. They have a massaging seat on the driver's side. I've got some 18-inch wheels that look pretty good. Big head unit with touch-screen and [00:02:00] navigation, satellite radio, better sound system. Just in general, the car feels very well-appointed. It feels like an entry-level luxury car.

Volkswagen completes design work on new EV platform

Volkswagen has completed the design work for its modular, MEB platform that's geared specifically for electric-vehicle production, Automotive News Europe says, citing comments Volkswagen development head Frank Welsch made at CES in Las Vegas last week. Additionally, VW's Skoda and Seat divisions may use that platform for their own plug-in vehicle models. VW's Audi division is also considering employing the platform, though adoption by Volkswagen's Porsche unit is unlikely. VW expects to start selling its first model specifically designed as an EV (i.e., not converted from existing conventional models such as the Golf and Up!) by 2020. Welsch added that the MEB platform may be used as a base for updated electrified versions of Golf, Tiguan, and Passat. Meanwhile, Skoda will debut as many as five plug-in models by 2025. Europe's largest automaker is looking to further distance itself from the 2015 scandal that involved software that cheats diesel-emissions testing efforts and has cost the company more than $15 billion in US settlements alone. All told, VW and its divisions expect to debut as many as 30 plug-in vehicle models within the next decade. Volkswagen unveiled its I.D. concept vehicle, which is based on the MEB platform and looks somewhat like the BMW i3 electric-vehicle model, at last year's Paris Motor Show. VW said at the time that the vehicle could go as far as 373 miles on a single charge. Additionally, VW will show off an electric SUV concept model at this year's Shanghai Auto Show, and is unveiling a microbus version of the I.D. concept at the Detroit Auto Show this month. Related Video: Featured Gallery Volkswagen I.D. Concept: Paris 2016 View 16 Photos News Source: Automotive News Europe-sub.req. Green Volkswagen SEAT Skoda Green Automakers Electric Hybrid meb