Vw Super Bug 1973 on 2040-cars

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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Volkswagen to add 50k jobs by 2018

Volkswagen still has its eyes set on becoming the top global automaker by 2018, and to get there, it's apparently going to need more boots on the ground. Automotive News Europe is reporting that VW is looking to increase its staff by 50,000 over the next five years - an increase of nine percent - which does not include an increase in its US dealer network.
According to the report, a majority of the growth will come from China where the automaker is also looking to double its production capacity in the same time frame. The Volkswagen Group is already expected to rival General Motors for the top sales spot in China this year, and such a rapid expansion in the region could make a good springboard for sales increases in other countries.

Volkswagen Cross Up! headed for production after Geneva reveal

The last time we saw the Volkswagen Cross Up!, it was sitting out in the snow in prototype form, but the next time we'll see this slightly more rugged version of the diminutive Up! hatchback will be when it makes its production debut at the Geneva Motor Show next month. Looking like a micro-crossover with its raised ground clearance and black cladding, the Cross Up! will be the fourth "Cross" model for VW (after the CrossPolo, CrossGolf and CrossTouran) when it goes on sale this summer in mainland Europe (UK sales remain up in the air and US sales are highly unlikely).
Overall, the styling of the production Cross Up! has stayed fairly true to the 2011 concept car, including the front and rear fascias that offer a more rugged look, stocky 16-inch wheels and roof rack side rails. Inside, this model will get unique interior enhancements such as "Cross Up!" sill plates and an instrument panel available in red, black or silver. Like the regular Up!, the Cross Up! is powered by a 74-horsepower, 1.0-liter three-cylinder engine paired to a five-speed manual transmission, and it doesn't look like all-wheel drive will be part of the picture. For more details on the upcoming Cross Up!, check out VW's press release posted below.