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Volkswagen loses thousands of vehicles in Chinese explosion

Yesterday, a blazing, explosive fireball erupted from a port in the city of Tianjin, in China, lighting up the night sky and shattering windows with the force of 21 tons of TNT. Hundreds were injured and the death toll continues to rise, with the most recent reports claiming 50 were killed. While the human cost of this tragedy simply can't be overstated, it hasn't taken long for corporations to look into what the enormous explosion cost them. And for Volkswagen, the answer is quite a lot. According to our friends at Jalopnik, a Chinese source claims the German giant, which remains one of the PRC's most popular brands, lost thousands of vehicles. The automotive casualty sheet lists 1,065 Touaregs, 391 Beetles, 257 Tiguans, 114 Golfs, 84 Up! minicars, 39 SportVans, and 28 Magotans (a locally built version of the Passat). While those are the only vehicles listed, the Chinese source said over 2,700 vehicles were destroyed. For example, both Land Rover and Renault lost an unspecified number of Discovery SUVs and Koleos CUVs, respectively. The explosion also affected Toyota. Its research and design facility with joint-venture partner Sichuan FAW also suffered an unspecified amount of damage. You can check out the translated source article here. As Google Translate jobs go, though, this one is particularly bad, but it still offers some details of the automotive cost of this disaster.

Volkswagen caught testing hotter Golf R 400

We're getting closer, folks. Last we heard, Volkswagen gave its super-hot Golf R 400 the green light for production. And before that, we were told that if the car got the go-ahead, it would be offered in the United States. So here we are, with a fresh set of spy shots showing what we believe to be the R 400 out testing. Here's one dream that might just be coming true. The prototype seen here sports bigger brakes, different wheels, very low-profile tires, a front lip spoiler, and a wing around back – that last bit looks to be borrowed from the GTI Clubsport. It's not nearly as outrageous-looking as the original R 400 concept, but that's okay with us. Volkswagen's production hot hatches have always been pretty subtle. We love a good sleeper. Under the hood, expect a turbocharged powertrain tuned up to over 400 horsepower. It'll be mated to a dual-clutch transmission and 4Motion all-wheel drive – two parts of the current Golf R package that work very, very well. There's no telling exactly when we'll see the production Golf R 400, assuming it's actually, really, finally happening. All we can do now is wait. And salivate.

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."