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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.

Toyota is adding another hybrid sedan--the Sai--for the Japanese market

The Toyota brand is getting another hybrid sedan in the Japanese market, a sister model to the Lexus HS 250h that will sport a more powerful engine than the Prius hatchback. The car, to be named the Toyota Sai, will go on sale in Japan on Oct. 20, Toyota Motor Corp.

Toyota previews FT-Bh concept [w/video]

Toyota has released the first images along with a video for its new FT-Bh concept car, set to be unveiled at the Geneva motor show. The FT-Bh – Future Toyota B-segment hybrid – previews a production-destined car designed to maximize fuel efficiency and built using economically-viable construction methods and technologies. The five principal factors that the Toyota's designers have focused on are reducing the car's weight (just 800kg), increasing its aerodynamic performance as well as its powertrain efficiency via thermal energy management and electricity saving qualities.