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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.

Volvo S60 L plug-in petrol hybrid heading for Beijing Motor Show

The Volvo S60L Plug-in (pictured) heading for Beijing The Volvo V60 Plug-in is already doing good business for Volvo – despite a price tag of £50k – but the V60 plug-in is a diesel hybrid which doesn’t suit all markets. So Volvo are ploughing ahead with a petrol engine based plug-in hybrid with the debut at the Beijing Motor Show next week of the Volvo S60 L Plug-in, a petrol hybrid version of the long wheelbase S60. At first glance the S60 Plug-in looks just like its regular ICE sibling, but under the skin sits a 2.0 litre Drive-E petrol engine with 238bhp and 258lb/ft of torque – which drives the front wheels – and a 68bhp electric motor with 147lb/ft of torque that can drive the rear wheels, which can be recharged in 4.5 hours.

2013 Mercedes GL: Official

2013 Mercedes GL Mercedes Benz has officially revealed the 2013 Mercedes GL SUV at the New York Motor Show. On sale in the UK early 2013. We had photos of the 2013 Mercedes GL in last week ahead of its official reveal at the New York Motor Show, but now the show is under way – well, press day at least – Mercedes has now revealed their big SUV officially.