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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.

Nissan Celebrates 80 Years

Nissan held a little gathering at its Yokohama headquarters two nights before the Tokyo Motor Show opened to celebrate 80 years of building cars. It has been making them longer than any other Japanese manufacturer. CEO Carlos Ghosn, who can do everything except maybe juggle, addressed a crowd of several hundred executives, suppliers, car club members and even some media, giving his remarks in what sounded like pretty good Japanese.

U.S. woman ready to take a crack at world land-speed record

We talk power numbers at AutoWeek all day long. Three hundred horsepower used to be a lot, then 400, then 500. Now we expect our supercars to exceed even that.