Volkswagen unveils new Touran MPV

Volkswagen unveiled the latest version of its seven-seat Touran MPV at the Leipzig Motor Show in Germany.

The new version that gained design directions from the Polo, Golf and Touareg boasts a fresh look as well as new technology.

The new Touran comes with new grille, LED tail lights, tailgate, front bumper and rear bumper. The vehicle also got new alloy wheels and chrome-edged rubbing strips.

Apart from the current 138bhp 1.4-litre petrol engine, a new entry-level 104bhp 1.2-litre petrol engine will also be made available.

Volkswagen to buy stake in Japan’s Suzuki for $2.5bn

The German auto giant Volkswagen announced that it would buy 19.9 per cent stake in Japanese car maker Suzuki Motor for $2.5 billion.

On the other hand, Suzuki will purchase shares in Volkswagen worth up to half the amount the German automaker buys.

The two car makers announced in a joint statement that they reached a common understanding to establish the partnership.

Suzuki owns 54 per cent stake in India’s biggest car maker Maruti Suzuki Ltd.

Volkswagen shareholders endorse plan to issue new shares

Shareholders of Volkswagen AG have overwhelmingly approved a plan to increase capital via issuing up to 135 million new shares, a move that will strengthen company's financial position for the planned takeover of Porsche.

98.7 per cent of Volkswagen shareholders voted in favour of the capital increase at an extraordinary meeting in Hamburg on Thursday.

Commenting on the topic, Volkswagen said, "The path is now free for a planned capital increase in the first half of 2010 with subscription rights for all shareholders."

Volkswagen inks deal to acquire Porsche

Volkswagen, Europe's biggest carmaker, and luxury auto manufacturer Porsche have finally approved a plan to merge by 2011.

The move will create an automotive giant, which includes ten major brands - including Volkswagen, Porsche, Audi and Skoda.

Under the terms of the agreement, Volkswagen will pay up to 3.3 billion euros for the stake by the end of 2009 and issue new preferred shares sometime in the first half of
2010 to finance the deal.