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Porsche to take majority stake in VW for £7bn
Fri, 07 Mar 2008By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.
Endurance-drivers seminar highlights Amelia Island concours
Sun, 11 Mar 2012If there were a Hall of Fame for endurance drivers, the nine gentlemen assembled on Saturday at the 17th-annual Amelia Island Concours d'Elegance would certainly be members. Event founder and chairman Bill Warner needed 25 minutes just to read off a portion of their lifetime racing accomplishments as he introduced them individually to a packed ballroom at the Ritz-Carlton Amelia Island, home of the event. Hurley Haywood, Vic Elford, Sam Posey, Joe Buzzetta, Gerard Larousse, Brian Redman, Jim Hall, David Hobbs and Derek Bell regaled the audience with tales of their amazing careers.
People's Car Project concepts showcased
Wed, 02 May 2012Volkswagen is currently showcasing three of its vehicle and technology concepts created under the ‘People's Car Project' at this year's Beijing auto show. The Hover Car, the Music Car and the Smart Key concepts – created by users of the website, which has seen 33 million visitors – are just three of more than 119,00 ideas submitted, leading the project to be indefinitely extended as Volkswagen uses the findings to influence its future design strategy. The ‘Hover Car' is an environmentally friendly two-seater city car that, unsurprisingly, hovers above the ground.