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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.

Fiat 500 Cabrio hits the US

The Fiat 500 Cabrio hits the US for Spring Actually, we’re not completely convinced that the Fiat 500 cabrio (that’s Fiat 500 Convertible for those of us on the old continent who prefer real words)  has hit the US. Because although Fiat has told us the 500 Cabrio hits the US ‘Just in time for spring’, it doesn’t say when US customers will start to get cars. Which may be a bit nit-picking, but there doesn’t seem much point saying it’s hitting in time for Spring when Spring’s a third done and there’s still no date.

Hyundai beefs up its WRC team

Hyundai revealed last year that they’re preparing to take on the World Rally Championship (WRC) from 2014 when a rally car based on the i20 will take to the world rally stage to cast some sport fairy dust on Hyundai’s showroom cars. At that time we had little information about the team, but in January we learnt that Hyundai had appointed Michel Nandan to head up their WRC efforts, a good move as Nandon was the technical director for the Peugeot WRC team until 2005, so he knows his stuff. Now we learn that Hyundai is beefing up its WRC team as it prepares for a full season of WRC in 2014.