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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.

2014 VW Golf R Mk 7 teased ahead of Geneva debut

Volkswagen has started the tease for the Mk 7 Golf R with the new Golf R hidden in a block of ice as a ‘Frozen Beast’ ahead of a Geneva 2013 debut. Now that Volkswagen has the Mk7 Golf in the wild – and the MK 7 VW GTi too – they’re ready to turn the wick up to 11 with the launch of the MK 7 Golf R – or at least the concept version – at the 2013 Geneva Motor Show. And now they’re starting to tease.

U.S. Mitsubishi dealers will get electric vehicles

Mitsubishi Motor Corp. will introduce a small electric car to sell at its U.S. dealerships.