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Porsche to take majority stake in VW for £7bn

By 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.

GM expands advanced-vehicle-technology center in California

General Motors unveiled a new technical center dedicated to the development, maintenance and testing of alternative-energy vehicles last week in Torrance, Calif. The company has had local digs for years but recently leased the building next to its existing Advanced Technology Center for an alternative-energy research facility. It now employs a dozen scientists, technicians and engineers to advance the electrification of GM vehicles.

Cadillac may get future rear-drive hybrids

General Motors' two mode hybrid powertrain, used only in trucks, will migrate to rear-drive cars in the next generation, said Tom Stephens, GM's vice chairman of global product operations. Two likely candidates: Cadillacs, says consultant Jim Hall of 2953 Analytics in suburban Detroit. Last month, GM said it is developing an electric motor that is 25 percent smaller and 20 percent more powerful than the motor used in today's two mode hybrid full-sized trucks.