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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.

Chris Bangle Associates announces 'Illustrate the Future' design competition

Chris Bangle Associates has announced a new design contest called 'Illustrate the Future.' The competition is open to all design students across all design disciplines and coincides with the launch of Managing Director, Chris Bangle's new book. "I have written a fiction book about Car Design and the prologue takes place 25 years in the future," says Bangle. "It contains some concepts I have been working on, and this contest is to see what YOU would make of them." Bangle's novel explores the state of affairs in the car design field and also expresses his concerns about the culture future generations of designers will inherit.

Infiniti Q50 hit by steer-by-wire recall in the US

Infiniti has issued a recall notice in the US for a small number of Q50 models fitted with the firm’s new Direct Adaptive Steering system. This is a ‘steer-by-wire’ steering system that only has a mechanical link between the steering wheel and the wheels as a back-up. The rest of the time the steering is operated by electronics, rather than a direct connection.