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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.
Ferrari 599 HTGE China Limited Edition
Thu, 08 Oct 2009The Ferrari 599 HTGE China Limited Edition But time they are a changin’ (thank you Mr D.), and China has become a big market for purveyors of luxury goods, none more so than Ferrari. So sticking together a Limited Edition Ferrari for the Chinese market is an eminently sensible move for Ferrari, even if the dozen models of the China Limited Edition will be a mere drop in the ocean in a country which boasts a population of 1.3 billion and still rising. So it seems a reasonable bet that Ferrari will have no trouble selling the China 599 to the extremely wealthy who now sit at the top of China’s financial pecking order.
Volvo XC60 Plug-in Hybrid concept car (2012) first pics
Wed, 04 Jan 2012Volvo will showcase its latest plug-in hybrid technology in the new 2012 XC60 Plug-in Hybrid concept car at next week's Detroit auto show. The Swedes have been developing a range of plug-in hybrid cars, using both petrol and diesel. The hybridised V60 which goes on sale in Europe later in 2012 uses diesel, whereas the new SUV drinks from the green pump.