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VW close to decision on selling Bugatti to Rimac

FRANKFURT — Electric hypercar maker Rimac Automobili and Volkswagen's supercar brand Bugatti are a good technological fit, Porsche's CEO told German weekly Automobilwoche, fueling hopes that a deal between the two could happen soon. British automotive magazine Car last year reported that Volkswagen was on the verge of selling Bugatti to Rimac Automobili, citing sources. In exchange, Porsche, also owned by Volkswagen, would raise the 15.5% stake it owns in Rimac, founded by Croatian entrepreneur Mate Rimac, Car said. "At the moment there are intense deliberations on how Bugatti can be developed in the best possible way. Rimac could play a role here because the brands are a good technological fit," Porsche CEO Oliver Blume said. "There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year," said Blume, who also sits on the management board of parent Volkswagen. Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Pininfarina. Blume also confirmed higher savings targets for Porsche, saying the carmaker plans to support results by 10 billion euros ($12.1 billion) of cost cuts by 2025, up from 6 billion previously. Related Video:

Carmakers ask Trump to revisit fuel efficiency rules

Car companies operating in the US are required to meet stringent fuel efficiency standards (a fleet average of 54.5MPG) through 2025, but they're hoping to loosen things now that President Trump is in town. Leaders from Fiat Chrysler, Ford, GM, Honda, Hyundai, Nissan, Toyota and VW have sent a letter to Trump asking him to rethink the Obama administration's choice to lock in efficiency guidelines for the next several years. The car makers want to revisit the midterm review for the 2025 commitment in hopes of loosening the demands. They claim that the tougher requirements raise costs, don't match public buying habits and will supposedly put "as many a million" jobs up in the air. The Trump administration hasn't specifically responded to the letter, although Environmental Protection Agency nominee Scott Pruitt had said he would return to the Obama-era decision. The automakers' argument doesn't entirely hold up. While the EPA did estimate that the US would fall short of efficiency goals due to a shift toward SUVs and trucks, the job claims are questionable. Why would making more fuel efficient vehicles necessarily cost jobs instead of pushing companies to do better? As it is, even a successful attempt to loosen guidelines may only have a limited effect. All of the brands mentioned here are pushing for greater mainstream adoption of electric vehicles within the next few years -- they may meet the Obama administration's expectations just by shifting more drivers away from gas power. This article by Jon Fingas originally appeared on Engadget, your guide to this connected life. Related Video: News Source: ReutersImage Credit: Daniel Acker/Bloomberg via Getty Images Government/Legal Green Chrysler Fiat GM Honda Hyundai Nissan Toyota Volkswagen Fuel Efficiency CAFE standards Trump

At least 30 VW managers knew of emissions cheat

You know how the Volkswagen diesel scandal is very, very, very bad? Well, if a report from Germany's Der Spiegel is true, it's about to get a lot worse. Throughout the entire affair, VW has maintained that it was a small, isolated group behind the so-called defeat devices. Der Spiegel, though, claims that at least 30 managers knew what was going on and that dozens will be suspended for their role in the scandal. The story cites both an external probe ordered by VW and conducted by US law firm Jones Day as well as the company's own preliminary findings. This report flies directly in the face of what Volkswagen of America CEO Michael Horn, shown above, said in his sworn testimony to congress last week. Horn straight up said that the scandal "was something individuals did," blaming a sort of rogue group of software engineers (although he also acknowledged such an argument was hard to swallow). If it's proven that he was among the 30 employees involved, or he can be otherwise connected, the embattled exec could be in big trouble. According to the Der Speigel story, a VW spokesperson said, "The number is without foundation." Der Spiegel also cited a VW engineer, who said that any diesel engine, like the EA188, EA189, and EA288, that could get by without pricey emissions controls should "have [made] any engine developers leery." We should expect additional information on VW's internal response to the scandal later this week, when Group CEO Matthias Mueller addresses management.