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Former Porsche execs acquitted of stock manipulation charges

A German court acquitted former Porsche CEO Wendelin Wiedeking and former CFO Holger Harter of stock manipulation charges, according to Bloomberg. Prosecutors alleged the men hid plans to takeover Volkswagen while publicly denying their intentions to investors. The presiding judge didn't find any merit to those claims, though. "There is nothing to the allegations, absolutely nothing," Judge Frank Maurer said, according to Bloomberg. "There was no secret plan to take over VW." Rather than Porsche taking over VW, the exact opposite eventually happened, and both execs stepped down. Investigators first indicted Wiedeking and Harter for alleged stock manipulation in late 2012. A court in Stuttgart dismissed the case in 2014 because of a lack of evidence, but an appeals court later overruled that decision. The current trial finally began in October 2015. If convicted, Wiedeking faced up to 30 months in prison, and Harter could have received up to 27 months, Bloomberg reported. Prosecutors also wanted one million euro ($1.1 million) fines from them and 807 million euros ($910 million) from Porsche. The acquittal might not be the end of this long-running case, though. In Germany, prosecutors have the right to appeal a ruling, and the lawyer hasn't made a final decision yet. If the court thinks there's a reason, the former execs could be back in front of a judge at some point in the future.

VW readying new VR6 with forced induction

Volkswagen built a stonking, narrow-angle V6 in the 1980s and 1990s that was found in three different generations of the Golf (their performance iterations, obviously), three generations of the Passat, the New Beetle, the Corrado and the Touareg, among other VWs, a spate of Audis, Seats, a Skoda, and even the Porsche Cayenne. It was a sad day when it was announced that it'd be put out to pasture.
Rejoice, though, fans of the venerable VR6, because Volkswagen has a new, modern variant in the works that, according to AutoWeek, features direct injection and can easily be fitted with forced induction. In fact, AW mentions Volkswagen insiders that claim this unit will spawn a production version of the twin-turbo V6 shown on the Design Vision GTI from this year's Wörthersee festival. That unit produced an epic 503 horsepower and 413 pound-feet of torque.
Don't expect a production unit with that level of power (although it would make a hardy RS4 powerplant), though. In reality, AutoWeek is suspecting anywhere from 340 to 450 horsepower from the new mill. When it arrives at an undisclosed date in the future, it'll likely be found in the Passat and Passat CC as well as the production version of the CrossBlue.

VW gets help from Daimler to deal with VW scandal

Volkswagen has hired Christine Hohmann-Dennhardt, a compliance officer, away from Daimler. Normally, this wouldn't be particularly big news. The reason you might care is summed up rather succinctly by Ferdinand Dudenhoeffer, director of the Center for Automotive Research at the University of Duisburg-Essen, who said that Hohmann-Dennhardt is being tasked with helping the entire German automobile industry "clean up the collateral damage from the diesel deceit." Hohmann-Dennhardt had to be released early from her contract with Daimler in order to take on this difficult role with an inter-country rival. VW Chairman Hans Dieter Poetsch thanked "Daimler AG for agreeing to our request to the early termination of Dr. Hohmann-Dennhardt's contract." What makes this move even more interesting is that Daimler and Volkswagen have had a terse relationship in recent years due to the poaching of important employees from one side to the other. According to Bloomberg, Hohmann-Dennhardt's contract with Daimler had been secured through February of 2017, but with her early release, she will start her new role on VW's board of management in January of 2016. Daimler, for its part, released a statement suggesting the decision was made "in the interests of the good corporate governance of the German automotive industry." Prior to her employment at Daimler, Hohmann-Dennhardt served for 11 years as a judge. Reading between the lines, it seems VW's massive corporate scandal has rocked the German auto industry to its core. Enough so, in fact, that Daimler would be willing to let go of a highly talented and well-respected executive – the first woman ever appointed to the German automaker's board – who had served since there since 2011. Feel free to read through VW's entire statement, below. Related Video: Dr. Christine Hohmann-Dennhardt to move to Volkswagen AG in 2016 as Board Member for Integrity and Legal Affairs Daimler AG agrees to move of Board Member for Integrity and Legal Affairs to Volkswagen AG The Chairman of the Supervisory Board of Volkswagen AG, Hans Dieter Potsch, has requested the Chairman of the Supervisory Board of Daimler AG, Dr. Manfred Bischoff, to agree to the early termination of the contract with Dr. Christine Hohmann-Dennhardt, Member of the Board of Management of Daimler AG for Integrity and Legal Affairs, which runs until February 28, 2017. She is to join the Volkswagen Group as of January 1, 2016 as the Board Member for Integrity and Legal Affairs.