VENTURE CAPITAL POST

Volkswagen, its Audi and Porsche luxury brands, BMW, Daimler, and Ford’s European division have joined forces to build more electric car charging sites across Europe. The joint venture wants to create 400 charging sites next year in order to boost the demand on electric vehicles.

Volkswagen and Porsche identified a potential problem in their Cayenne and Touareg model from 2011 to 2016 and are calling back 800,000 SUVs to undergo a service to address the issue. The companies said this is a precautionary move, as a U.S. judge demanded that the companies come up with a plan immediately.

Porsche is constructing its residency tower with hydraulic lifts that could transport residents’ cars to the garage next to their units. The garages will have floor-to-ceiling windows right outside the living room, where car enthusiasts can keep and enjoy their cars in the luxury personal garage while enjoying the buildings post amenities.

New Mexico has become the first US state to sue the German automaker, Volkswagen, for breaching the Clean Air Act with huge levels of emissions as well as for trade malpractices. The allegation is the company sold as many as 4000-10000 faulty models whose nitrogen-oxide emissions exceeded the limits by 40%, which could cost VW almost $20 billion in fines.

The extraordinary high price was due to its extensive race history, which includes a world championship title. The supercar is expected to sell for more than $34 million in Retromobile Classic Car show in Paris, one of the most prestigious salons for car enthusiasts.

German car manufacturer Volkswagen placed thousands of car owners at risk of being electronically hacked by blocking the results of a white hat study about the security of their vehicles' electronic systems in European courts.

Volkswagen (VOWG_p.DE) Chairman Ferdinand Piech's iron grip on the German carmaker has been severely weakened following a dramatic confrontation with senior board members last week that nearly resulted in a push to oust him, sources told Reuters.

Martin Kapp gestures towards the sleek red Italian sports car standing in his barn in the heart of Germany, secure in the knowledge there is not another exactly like it in the world.

When he attended design preview meetings for the Genesis luxury sedan, Hyundai Motor heir-apparent Chung Eui-sun suggested features he'd seen on high-end European rivals, such as a pop-up navigation screen and a gearshift that rises and retracts.

China said on Thursday it would punish carmakers by restricting their production and publicly naming them if they fail to meet fuel consumption requirements on passenger vehicles set for 2015.

Al Nabooda Automobiles had set plans to expand its German car imports operations in Dubai and Sharjah.

Porsche released teaser photos of its 2014 sport utility vehicle or SUV model, the Macan.

The 2014 Macan would be unveiled by Porsche at an auto show in Los Angeles in 37 days.