By on September 17, 2020

Bugatti Chiron speed attempt

Croatian supercar firm Rimac Automobili is reportedly in the process of acquiring Bugatti from Volkswagen. While rumors had been swirling that VW might offload a few of its brands in a bid to focus on electrification and emissions compliance, this is is the first time we’ve heard credible rumblings about real action being taken.

Considering the space Rimac occupies, adding the formerly French Bugatti brand also makes some amount of sense. We’d be a lot more skeptical if founder Mate Rimac was alleged to be making a move on SEAT because he suddenly found a passion for designing economy cars. But the prospective tie-up is more complicated than it seems at first blush. Volkswagen Group’s Porsche actually owns a 15-percent stake in Rimac so it can tap into some of its sweetest technical equipment for the purpose of building EVs.

(Read More…)

By on November 9, 2017

Ferdinand Piech, Image: Volkswagen AG
After an extended battle with his family, Ferdinand Piëch has finally acquiesced to resign from the board of Porsche Automobil Holding SE and sell off his remaining shares. At 80 years of age, leaving VW Group’s parent company was probably long overdue for Piëch, but you can’t help but wonder if the manner in which his retirement unfolded hasn’t left him bitter.

Still, with his 14.7 percent stake rumored to be worth over a billion euros, he’ll have the means to stage the most elaborate revenge any of us could possibly imagine — assuming that’s what he intends. One certainly could make the case that he’d have valid reasons for doing it.  (Read More…)

By on March 17, 2017

piech

One of the preeminent figures within the European automotive industry is looking to get out of the family business. The former paterfamilias of Volkswagen AG, Ferdinand Piech, is looking to dump his stake of Porsche Automobil Holding SE and sever his remaining ties to VW. Piech’s shares would remain within the Porsche-Piech family — allowing them to keep control of Volkswagen Group — but Ferdinand would be out of the game as a majority stakeholder.

Piech has been at odds with his relatives after suggesting that Wolfgang Porsche and several other VW supervisory board members had been aware of Volkswagen’s emissions cheating much earlier than they claimed. Sources close to the family, whose members are apparently outraged, have stated that the Porsche-Piech gang sought to replace him at the table of Porsche Holdings ever since.  (Read More…)

By on February 23, 2017

Volkswagen VW Badge Emblem Logo

Politicians from Volkswagen’s home region of Lower Saxony are raising questions over the unanticipated departure of the German automaker’s compliance chief, Christine Hohmann-Dennhardt, saying they have concerns over how the supervisory board handled the matter. There has been a long-standing apprehension among investors and business analysts that VW is too tightly controlled by its founding Porsche-Piech family and incapable of amelioration.

On Wednesday, Deutsche lawmakers called for a formal inquiry on the matter.

Hohmann-Dennhardt was brought aboard very late in 2015 to assist in Volkswagen’s reformation following the diesel emissions cheating scandal. However last month, after only a year on the job, she left abruptly with a sizable pension and gargantuan severance. (Read More…)

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