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Porsche finally becomes a VW company

Volkswagen has announced it is to finalise its takeover of Porsche by buying the remaining 50.1 per cent of Porsche stock for €4.46 billion. The takeover of Porsche by VW has been a long and rocky road, but then family fallouts are always messy. It all started with Porsche attempting to consume VW, but some clever manoeuvring by Ferdinand Piech thwarted the efforts of his cousin, Wolfgang Porsche, to swallow up his business and the financial crisis saw Porsche rack up €10 billion in debt in the process.

Morgan to fight car firm ousting

A FORMER SPORTS CAR chief has vowed to fight his removal from the board of the company his grandfather founded. Charles Morgan said he was appealing against the decision by Morgan Motor Company, which said he would no longer be a part of the managing team or the board of directors at Morgan Technologies, a subsidiary of the main company. Earlier this year, Mr Morgan stepped down as the Worcestershire-based company's managing director and became an ambassador for the brand started by his grandfather Henry Morgan in 1910.

Audi reveals monster V12 diesel

By Phil McNamara First Official Pictures 18 September 2006 08:15 Audi has revealed details of a flagship diesel Q7, which runs a V12 TDI inspired by the company's Le Mans-winning diesel racer. Ingolstadt claims the engine is the world's most powerful production diesel. The blown 6.0-litre V12 kicks out 493bhp and a staggering 737lb ft at just 1750rpm.