Auto blog

Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

Volkswagen Golf Wagon leaked ahead of official unveiling

Wagons ho! These three images of the upcoming Volkswagen Golf Wagon have leaked online ahead of the car's official debut, which may very well be at the Geneva Motor Show. Looking over the photos doesn't really bring any surprises - after all, this is a VW Golf with a wagon rear end grafted on, or basically what we expect next Jetta SportWagen will be.
We can only share these three images at this time, but fret not, folks. There's little doubt that all the details and images will be flowing from Volkswagen in short order. In the meantime, click on the images above to view them in high resolution.

When Android Automotive goes in the dash, Google wins — and automakers lose data

You've gotta hand it to Google for the way the Silicon Valley tech giant has made indelible inroads into the car on multiple fronts. The most obvious is with its pioneering self-driving car technology that's caused car companies to get their act together on autonomous vehicles — and also collaborate with Google. Google has more directly extended its influence and data-mining capabilities into the car with its Android Auto smartphone-projection platform that most major automakers have adopted along with Apple's CarPlay. And now it's preparing to dig even deeper into dashboards by deploying its open-source operating system, Android Automotive, beginning with Audi and Volvo. Volvo recently announced that its next-generation Sensus infotainment system will run Android Automotive as an OS and include Google's Play Store for cloud-based content, Maps for navigation and Google Assistant for voice recognition, which can even command a car's climate control. By embedding Google in the dash, Volvo says owners will get an improved connected experience. "Bringing Google services into Volvo cars will accelerate innovation in connectivity and boost our development in applications and connected services," Volvo senior vice president of R&D Henrik Green said in a statement. "Soon, Volvo drivers will have direct access to thousands of in-car apps that make daily life easier and the connected in-car experience more enjoyable." Having Android Automotive onboard could benefit drivers — and provide a big win for Google, since it opens a deep and lucrative new data-mining vein for the company. But it's a wave of a white flag for car companies when it comes to delivering their own cloud-based content and services. It also represents a massive data giveaway and, for Audi, a reversal of earlier reservations about letting Google get too much access to car data. Not long after Android Auto and Apple CarPlay were introduced in 2014 and most automakers eagerly embraced the technologies, several German automakers second-guessed their decision when they realized what was at stake: data. At a conference in Berlin in 2015, Audi CEO Rupert Stadler said car owners "want to be in control of their data, and not subject to monitoring." A few months earlier, Stadler stated that "the data that we collect is our data and not Google's.