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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.

India's National Institute of Design

The National Institute of Design (NID) in Ahmedabad is hidden in the greenery behind an iron gate in the crowded streets of the biggest city in the Indian state of Gujarat. There are no car manufacturers here, nor is there any particular tradition of design in general. But for almost half a century this has been the main school to enrol in if you want to become a car designer in India.

Cadillac ELR – a Chevy Volt in posh clothes – confirmed

The Cadillac Converj is going in to production as the Cadillac ELR When GM revealed the Cadillac Converj Concept at Detroit in 2009 it all looked very promising. But it came to nothing, despite rumours it was going in to production. But now it is going in to production, as the Cadillac ELR.