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Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

Who's Where: Maximilian Missoni joins Volvo as exterior design chief

Maximilian Missoni has been appointed exterior design chief at Volvo Cars. He will report to exterior design director Fedde Talsma and to Thomas Ingenlath, vice president design. 34-year-old Austrian-born Missoni joins the Swedish carmaker from Volkswagen where he worked from 2002, first working in Wolfsburg as a designer before being appointed senior exterior designer at the company's Advanced Design Center in Potsdam.

New options make Prius pricey

High-tech features and luxury options will push the redesigned Toyota Prius into new territory--namely, $30,000-plus. The 2010 Prius hybrid will offer options found on luxury cars: systems that automatically park the car in a parallel parking space and slow the vehicle when a crash is likely. But Toyota is aware of a new competitor--the 2010 Honda Insight, a hybrid that is a little smaller and expected to be less expensive than the Prius.