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Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

Jaguar R-S Range to grow – XKR-S Convertible, XJR & XFR-S planned

R-S will extend across the Jaguar range It’s been a while since we played the speculation game with Jaguar, so it’s due. The last punt we had after a tip-off – apart from the XF 2.2 diesel Jaguar denied when we ran the story – was that Jaguar were planning on building an XJ Supersport Diesel. But long before that we heard that, there were rumblings of a more powerful petrol XJ Supersport too, an XJR, perhaps, or maybe an XJR-S or XJ Supersport S.

Magna Steyr MILA Coupic revealed

Magna Steyr – an independent engineering and manufacturing company – will be revealing the MILA Coupic concept study at the rapidly-approaching Geneva motor show. The MILA Coupic, the sixth concept in the MILA innovation family, brings together three different vehicle concepts into one SUV coupe that can transform into a sporty pick-up or an open-air convertible. The concept is constructed using a combination of textile, glass, roof modules and seating technology.