A group of hedge funds want over €1.3bn from Porsche. They say Porsche management misled them in the takeover struggle with Volkswagen.
Chief Executive Oliver Blume has said the sports carmaker will focus on petrol/gasoline, hybrid and all-electric vehicles. Porsche and its parent Volkswagen have seen their image take a beating in the wake of Dieselgate.
Bengt Holmgren caught the Volkswagen bug in the 1960s and has since gone on to collect some 70 classic cars. Some 25 years after opening his own VW museum, the Swede will auction off his prized collection.
The first major court case against Volkswagen in Germany over its cheating in emissions tests involving millions of diesel cars begins Monday. It will examine whether the auto giant should have informed investors sooner.
Volkswagen has announced that the "New Beetle," a playful spin on the classic bug, will become a thing of the past as of next year. Many Americans have fond memories of the car, despite its roots in Germany's Nazi past.
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