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Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

Jaguar F-Type to get 5.0 litre Supercharged V8

Jaguar F-Type to get Supercharged V8 We already know the new Jaguar F-Type will get a supercharged V6 and now it seems it will also get a supercharged V8 option. There’s a lot resting on the new Jaguar F-Type for JLR. The first two-seat Jaguar for half a century and the first Jaguar designed and built entirely under Tata’s ownership.

Who's Where: Chris Chapman appointed as Hyundai Chief Designer

Former BMW designer Chris Chapman has been appointed as Hyundai's Chief Designer, based at its design center in Irvine, California. He will be responsible for both advanced and production design for the Korean brand and replaces Phil Zak, who left the company early in 2011 to return to GM. He will report to SukGeun Oh, Head of Design, Senior Executive Vice President Hyundai Design Center.