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Porsche chief Wendelin Wiedeking resigns

Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately. The resignation came Thursday, following a surprise meeting of the company's supervisory board at its Weissach R&D headquarters outside of Stuttgart, Germany, on Wednesday night. Wiedeking's announcement comes after months of tense and public infighting following Porsche's failed attempt to wrest control of Volkswagen, which left it with $12.7 billion in debt, and slowing sales in key markets such as North America.

Record Breaker Aiming High With Audi

NOT content with falling out of a balloon from a great height, Austrian extreme athlete Felix Baumgartner is tackling his next big challenge on the famous Nordschleife circuit of the Nurburgring in Germany. Teaming up with Audi, the Austrian will obtain a racing license and become a driver with the Audi race experience team for the grueling Nurburgring 24 Hours in June. He’ll also be swapping his recording-breaking balloon for a race-prepared Audi R8.

Green three-wheelers may get Energy Department funding

Aptera Motors, Elio Motors and other companies developing fuel-efficient three-wheeled vehicles got a boost from Congress this week in their quest for federal funding. Legislation to make three-wheeled vehicles eligible for Energy Department loans passed a conference committee of House and Senate leaders Wednesday and then got approval from the full House on Thursday. It is part of an energy spending bill likely to go before the Senate by next week for final congressional passage, a Senate aide said.