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Former Porsche boss Wiedeking won't face criminal charges over VW bid

Hedge fund managers have been suing Porsche for years now, alleging that the car company lied about its intentions during its failed attempt to take over Volkswagen, a gambit that caused them billion in losses. Over the same period, authorities in Stuttgart built a criminal case against former CEO Wendelin Wiedeking (above, left) and Chief Financial Officer Holger Härter (right), filing charges in December 2012. When those fund plaintiffs lost their most recent court case, one of the dimming lights in the dark and receding tunnel was that the criminal investigation might unearth more evidence about Porsche's actions that could help the plaintiffs in pending litigation.
Bloomberg reports that another light has gone out, though, with a Stuttgart court dismissing the market manipulation case before going to trial because, as a court spokesperson said, "there wasn't enough evidence backing up the charges." When prosecutors get the files back from the court, they have a week to decide to refile, but unless they've been sandbagging evidence that could bolster the case, the only lights at the end of the tunnel will be those welcoming Wiedeking and Härter back to the world of legally unencumbered men.

New VW Beetle Convertible ad needs no disguise

Convertibles make you do funny things. Ask someone if they'd drive a hardtop in near freezing temperatures with all the windows down and they might not even answer, thinking the question so ridiculous. Give that same person a convertible they love and you might just have to ask them to please put the top up even when snow is on the ground.
That guy has to take precautions to enjoy his proclivities, and as this new ad for the Volkswagen Beetle Convertible shows, not everyone understands. Have a watch below, and note that there's just one woman in the minute-long spot, and she's nowhere near the car. Seriously, why didn't VW run this commercial during the Super Bowl?

Volkswagen formally introduces super-efficient XL1

Lightweight and low drag are hallmarks of great sportscar design. But when paired with a super-efficient, hybrid powertrain, you have the Volkswagen's XL1 that has been formally introduced in Geneva today.
When the 1,700-lb, carbon-fiber-bodied two-seater hits the road, its claimed 261 miles per gallon will make it the world's most-fuel-efficient production car. Though "production car" might be a stretch since VW said in a February press release that the XL1 would be built using "handcrafting-like production methods." We translate that to mean you won't be seeing many of these cars on the road. Though no one at VW has mentioned pricing yet, early rumors suggested a six-figure price tag.
That's supercar budget for a vehicle that has a 47-horsepower, two-cylinder diesel engine and a 27hp electric motor. With numbers like that, owners can expect 0-62 mph times of 12.7 seconds and top speed near 100 mph.