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☆ Rivian and VW join up to design vehicle software
▼ + stars: | 2024-06-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Rivian and Volkswagen Group are forming a joint venture to create vehicle software, the two companies announced Tuesday. The two automakers did not provide a name for the new joint venture company or name its leadership team. Rivian’s fundamental vehicle software design is expected to provide the basis for the new company’s software. The technologies designed by the company will include both the user-interface software that runs things like the entertainment system and gauges and deeper vehicle software that interacts with things like the vehicle’s motors. VW already has its own vehicle software subsidiary, Cariad, and that company will continue with its work, VW chief executive Oliver Blume said on a conference call.

Persons: CNN —, RJ Scaringe, that’s, ”, Scaringe, it’s, Oliver Blume, what’s, Blume, ” Scaringe Organizations: CNN, Volkswagen Group, VW, Volkswagen, Porsche’s, Porsche Locations: Georgia, Atlanta

☆ Porsche reveals a new hybrid 911 as more consumers embrace hybrids over electric vehicles
▼ + stars: | 2024-05-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

They have become increasingly popular in the United States even as sales of purely electric models have started to slow. The German automaker Porsche, a division of Volkswagen AG, already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car, but a hybrid 911 is another matter. Initially, hybrid power will be available in only one version of the car, the high performance 911 Carrera GTS. In another major change for Porsche, this car will not be a plug-in hybrid, as other Porsche hybrid models have been. Besides hybrids, Porsche also sells fully electric cars, the Taycan and the new Macan Electric SUV.

Persons: CNN —, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen AG, Carrera, Volkswagen Locations: United States, Cayenne

☆ Hyper-luxury golf carts that you can drive on the road
▼ + stars: | 2024-05-13 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

But one Danish company is on a mission to put the art in golf cart. “When it came to the golf cart 18 years ago, they all looked the same – there weren’t any serious high-end products out there,” Lynge told CNN. You want something that’s sort of Lamborghini-shaped – very low and wide – but the golf cart is the exact opposite.”Tiger Woods rides a conventional golf cart at a tournament in 2005. Lynge took the prize ceremony event as an opportunity to pitch a dream that would be realized in 2016 – a Garia golf car inspired by Mercedes-Benz Style. “Really expensive … super exclusive, but also the coolest golf car you’ll ever see,” Lynge said.

Persons: Anders Lynge, Soren Bak Hansen, ” Lynge, Garia, Lynge, –, “, Woods, Jeff Gross, Mercedes, Lars Larsen, Lynges, ”, we’ve Organizations: CNN, Augusta National, Garia, Bentley, Lamborghini, Kussmaul, Mercedes, Benz, US, Lars Larsen Group Locations: Turnberry, Scotland, Copenhagen, German, Europe, €, London

☆ Porsche’s iconic 911 is going hybrid
▼ + stars: | 2024-05-13 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

A hybrid Porsche 911, with its gas engine assisted by at least one battery-powered electric motor, will officially be revealed in an online event on May 28. Porsche itself already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car but a hybrid 911 is another matter. This new hybrid model will be the closest Porsche can get to an electric 911 without raising those sorts of philosophical questions. But we do know the hybrid 911 is clearly faster than the current purely gas-powered 911. The faster time indicates the hybrid 911 has greater power due to the addition of electric assistance.

Persons: CNN —, ” Jörg Bergmeister, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen Locations: Cayenne

☆ Sebastian Steudtner says he has surfed the ‘unsurfable’ after drone technology measures 93.7-foot wave as world record
▼ + stars: | 2024-04-22 | by ( George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —German surfer Sebastian Steudtner may have broken his own record for riding the biggest wave in history earlier this year. The monster wave in the famed surfing sport of Nazaré, Portugal was provisionally measured at 28.57 meters (93.72 feet), pending ratification. If confirmed, the wave would eclipse Steudtner’s current record of 26.21 meters (86 feet) set in 2020, also in the fishing village of Nazaré. Steudtner holds the record for the biggest wave ever surfed. “We were, for the first time, surfing the biggest waves in stormy conditions which were considered unsurfable.

Persons: Sebastian Steudtner, Steudtner, ”, “, Team Steudtner, Marcus Schmelz, Gigantes de Nazaré, Lucas “, ” Steudtner Organizations: CNN, CNN Sport, ” Porsche, Team, Porsche Engineering, Surf League, Quattro, Siemens Locations: German, Nazaré, Portugal

☆ Porsche unveils one of the fastest cars in the world, featuring a 1,000-horsepower ‘launch control’ button
▼ + stars: | 2024-03-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

The electric 1,093-horsepower Taycan Turbo GT, coming to market this summer, has already set two race track speed record for an electric car. High horsepower numbers and eye-popping acceleration are more common among electric cars than gasoline-powered ones, especially since EVs can have multiple motors. This Turbo GT, a new version of the electric Porsche Taycan, features two motors. One, the standard Porsche Taycan Turbo GT, will be fast but reasonably comfortable for street driving. The Porsche Taycan Turbo GT with Weissach Package, though, will dispense with backseats and other comfort items to save weight.

Persons: Nordschleife Organizations: CNN, Porsche, Tesla, Toyota, Turbo, Taycan, Volkswagen Group Locations: Turkish

☆ Porsche 911 Reimagined by Singer: Posher Than Ever
▼ + stars: | 2023-06-09 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

SPEAK MEMORY Singer Vehicle Design in Torrance, Calif., restores and modifies classic Porsche 911 Carreras from 1989-1994. The air-cooled, largely analog cars represent a ‘sweet spot’ in Porsche’s history, says Mazen Fawaz, the company’s CEO. Photo: Singer Vehicle DesignOUR TEST CAR cannot be bought for love or money. This 1991 Porsche 911 reimagined by Singer Vehicle Design—called the “Hollywood Commission,” in Bahama Yellow—is one of only 450 examples that the Torrance, Calif.-based fantasy factory will build, all of which are spoken for, with average costs in the high six figures, not including the donor car. I was this close.

Persons: Mazen Fawaz Organizations: Carreras, Singer, Hollywood Commission Locations: Torrance , Calif, Torrance, Calif

☆ Driving Lamborghini's new off-road supercar
▼ + stars: | 2023-05-20 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

I was driving a $380,000 Lamborghini Huracán Sterrato, and I couldn’t help laughing out loud. Lamborghini worked with Bridgestone to create tires using rubber similar to that on Lamborghini’s other performance tires, but with an off-road tread. The idea for it emerged while Lamborghini engineers and designers were having beers after a day driving off-road in a prototype of the Urus SUV. That was a lot of fun, they thought, but wouldn’t driving one of our all-wheel-drive supercars off-road be even better? Even those of us who can’t afford one should perhaps be glad the Lamborghini Huracán Sterrato exists.

☆ Hyundai starts EV subscriptions for those who only need a car sometimes
▼ + stars: | 2023-02-10 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

Users can reserve Hyundai electric vehicles using a smartphone app. Porsche also has a car subscription program available in 14 cities, according to Porsche’s web site. However, the Hyundai Evolve+ program doesn’t include any support for charging such as help installing a home charger or included access to public chargers. “We’re currently exploring ways to include the charging with the subscription,” Hyundai spokesman Miles Johnson said in an email. “It also could be a way to help drive the adoption of electric vehicles, providing EV intenders a platform to test electric vehicles without the long-term commitment.”

☆ Porsche’s IPO Hasn’t Helped Volkswagen Much
▼ + stars: | 2022-10-28 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Volkswagen risks learning the wrong lessons from taking Porsche public. In his first quarterly-results call with investors since taking the top job at VW, Chief Executive Officer Oliver Blume on Friday said the “big success” of last month’s Porsche initial public offering would be a “role model” for all of the group’s brands, which include the likes of Audi as well as VW itself. The company has no immediate plans for any more IPOs, but it will host a capital-markets day next spring to lay out “virtual equity stories” for its other badges. Mr. Blume hopes this will “lead to a complete equity story for the Volkswagen group.”

☆ Porsche overtakes Volkswagen as Europe’s most valuable carmaker
▼ + stars: | 2022-10-06 | by ( ) edition.cnn.com time to read: +1 min

Porsche took pole position as Europe’s most valuable automaker on Thursday, overtaking former parent Volkswagen (VLKAF) as the price of the sportscar maker’s newly-listed shares sped higher. The rise pushes Porsche’s valuation beyond Volkswagen’s 77.7 billion euros ($76.6 billion). Porsche’s share price regained momentum after investment banks involved in its flotation purchased almost 3.8 million shares for 312.8 million euros ($308 million) as part of the so-called greenshoe option, designed to support the listing. The shares purchased between Sept 29. and Oct 4. represented around 11% of the total trading volume since the listing, the spokesperson added, consisting of around 34 million shares. Overall, up to 14.85 million shares worth 1.2 billion euros are available via the greenshoe option in the four weeks after the offering as a stabilization measure.

☆ Porsche IPO Blazes Trail for Other Auto Makers
▼ + stars: | 2022-09-29 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Investors don’t always hate traditional car makers, it turns out. From Germany to Detroit, the whole auto industry needs to learn from the success of Porsche’s initial public offering. Shares in the sports car brand rose less than 1% on their first trading day Thursday, giving it a market value of about €75 billion, equivalent to roughly $73.5 billion. Parent company Volkswagen and its advisers were trying to pull off a balancing act with the IPO price. Price it too low and they would confirm investors’ worst fears that VW is incurably in thrall to its controlling shareholder, the Porsche and Piëch family investment vehicle, which got half of the Porsche shares VW just sold.

☆ VW Sets Price Range for Porsche IPO
▼ + stars: | 2022-09-20 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Porsche AG shares are set to begin trading Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen AG priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, equivalent to $19.5 billion.

☆ VW Sets Price Range for Porsche IPO, Valuing Car Maker at Up to $78 Billion
▼ + stars: | 2022-09-19 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Porsche shares are set to begin trading Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, the equivalent of $19.5 billion.

☆ VW Prices Porsche IPO, Valuing Car Maker at Up to $78 Billion
▼ + stars: | 2022-09-19 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Porsche shares will begin trading on Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, the equivalent of $19.5 billion.

☆ Porsche IPO has two investor roadblocks to clear
▼ + stars: | 2022-09-16 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

The 2020 Porsche 911 Carrera 4S is introduced during a Porsche press conference at the Los Angeles Auto Show in Los Angeles, California, U.S., November 28, 2018. Porsche’s valuation rests on how closely it can mimic peer Ferrari (RACE.MI), and what discount should be applied to its complex governance. VW’s influence in Porsche will be diluted by Porsche SE’s stake. Volkswagen will divide Porsche’s shares into voting ordinary and preferred shares, which carry no voting rights. Porsche’s valuation is likely to be between 70 billion euros and 80 billion euros, Reuters reported, citing a source close to the matter.

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