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German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

Volkswagen Jetta getting new 1.4L turbo four

In yet another example of engine downsizing, Volkswagen has announced it is slotting a new 1.4-liter turbo four into the Jetta. The smaller, forced-induction engine will replace the naturally aspirated 2.0-liter four in the Jetta S and the 1.8-liter turbo four in the Jetta SE, bringing with it direct injection and improved fuel economy. The 1.4-liter turbocharged four-cylinder engine is from the EA211 family. It's made of aluminum and features a compact single-scroll compressor, an intercooler integrated into the injection-molded induction pipe, exhaust manifold integrated into the head, variable intake and exhaust valve timing, direct fuel injection, dual overhead cams driven by a toothed belt, and a 10.0:1 compression ratio. All that adds up to 150 horsepower and 184 pound-feet of torque, mated in the Jetta to either a five-speed manual or six-speed automatic transmission. Fuel economy figures have yet to be certified, but are projected to come in at around 39 miles per gallon on the highway with the automatic, representing 13- and 7-percent improvements over the units it replaces. The EA211 is Volkswagen's new global small gasoline engine family, manufactured principally by Skoda in the Czech Republic. It's set to replace the old EA111 series, offering higher efficiency in a more compact and adaptable package. The Jetta Hybrid already uses essentially the same engine paired with an electric motor, and is being adapted to three-cylinder formats as well. INTRODUCTION OF NEW 1.4T ENGINE REINFORCES VOLKSWAGEN'S LEADERSHIP IN TURBOCHARGED, DIRECT INJECTION TECHNOLOGY Aug 4, 2015 Fitment of EA211 engine in Jetta models extends implementation of intelligent downsizing to 97 percent of Volkswagen vehicles sold in the U.S. market Traverse City, MI — Volkswagen pioneered the use of small displacement; highly efficient turbocharged and direct-injection engines in the U.S. Volkswagen first used this combination of turbocharging and direct injection in this market in its TDI® Clean Diesel engines in the Passat in 1996 and extended it into the gasoline field in the 2006 Jetta GLI and GTI models. Since then, the Volkswagen EA888 four-cylinder engine has set the benchmark for small-displacement turbocharged engines, beginning with the 2009 CC, while the EA288 TDI has set the standard for diesel engines in the North American market since it first appeared in the 2009 Jetta TDI Clean Diesel.

Skoda launching two new CNG-powered vehicles in Europe in June

Skoda's second- and third-ever production compressed natural gas (CNG) vehicles aren't exactly speed burners, but they are efficient. The Czech automaker, which is owned by Volkswagen, will introduce its Octavia G-TEC and Octavia Combi G-TEC models to most of Europe next month. Skoda's first CNG model was the Citigo, which debuted in 2012. The Octavia models will have a turbocharged 1.4-liter engine that will deliver about 109 horsepower. Quickness isn't these cars' virtue, as their 0-60 mile per hour acceleration time will be almost 11 seconds. But they can go as far as 826 miles on their tanks of gas and CNG, enough to go from Prague to Rome in one shot, in case anyone was curious. Or nuts. The move by Skoda makes sense, as the CNG market in Europe has long been far further along than it is on this side of the pond, where CNG has primarily been used to move delivery trucks, but it's now available in pickups form Chrysler, Ford and General Motors as well as passenger cars from Chevy and Honda. The Skoda Citigo has moved almost 2,000 units since its debut, with 1,300 vehicles sold last year alone. That car can go as far as 385 miles on CNG and gasoline combined, which is impressive but not quite as bladder busting as the Octavia models. Check out Skoda's press release below. SKODA continues its CNG offensive with the new SKODA Octavia G-TEC Launch of the new SKODA Octavia G-TEC and new Octavia Combi G-TEC in June First SKODA Octavia with natural gas drive as standard; 97 g CO2/km High-performance technology: bivalent turbo engine 1.4 TSI/81 kW The ultimate in fuel economy: up to 1,330 km with natural gas and petrol SKODA Citigo G-TEC has enjoyed market success since 2012; only 79 g CO2/km Natural gas is the environmentally-friendly, cost-effective alternative Mlada Boleslav, 19 May 2014 – Expanding its environmentally-friendly model range, SKODA is renewing its emphasis on compressed natural gas vehicles. The new SKODA Octavia G-TEC and the new SKODA Octavia Combi G-TEC will be given their market premiere in June. This will increase the brand's CNG range to three models. Since the end of 2012, the little natural gas-drive Citigo has been successfully touring the European markets. "With the new Octavia G-TEC and the Octavia Combi G-TEC, our model range is becoming even more environmentally-friendly," says Dr Frank Welsch, SKODA Board Member for Technical Development.