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Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

One Lap of the Web: supercars and not-so-super cars

-- This has been a busy week for 'Ring records, and it's only Wednesday. The latest unconfirmed report is that the McLaren P1 may have set a time of 6:47 around the course. That would make it the fastest car to ever lap the course, being a full second faster than the Radical SR8 LM.

Top seven notes from Beijing’s 2014 VW Group motor show

By Ollie Kew Motor Industry 25 April 2014 07:30 On the eve of every major motor show, the Volkswagen Group steals a jump on the competition by staging its own mini motor show to reveal its big-hitters for the imminent event. Here are seven things you won’t have heard from Beijing’s ‘Group Night’. As soon as the floor was opened to journalists, the Chinese media made straight for the stunning new Lamborghini Huracan and Bugatti’s latest Veyron Vitesse Legends Edition, the ‘Black Bess’.