All posts by Francis Mitterrand

News

Porsche’s CEO is the new head of VW

One of the largest car manufacturers in the world will soon have a new CEO. The current CEO of the VW Group, Herbert Diess, will resign at the end of next month, and from September, the former CEO of Porsche, Oliver Blume, will take over.

The German company did not say why Diess resigned. He came to Volkswagen from BMW in 2015, at a time when the company was rocked by the Dieselgate affair. Diess is credited with ushering the company into a new era, encouraging major investment in electric vehicle production, with the goal of selling one million electric cars a year by the middle of this decade.

With the new CEO, the VW group will certainly not lose, what so ever, they will get someone who knows the situation in the company very well. Blume will become CEO in early September, and should be a long-term solution for VW. One of the first big challenges for him will be to find a potential investor, given that VW has previously established the framework for a potential initial public offering.

After joining the VW Group in the mid-90s, this will be Blume’s biggest challenge yet. In a statement to the media, he did not hide his enthusiasm for the new position. He said his focus will be on customers and products.

Source: VW Group

Auctions, News

Schumacher’s 1998 Ferrari F300 is up for auction

Michael Schumacher is one of the greatest Formula 1 drivers in history, about whom very little is known since the accident that happened to him. Everything related to him attracts a lot of attention, including this 1998 Ferrari F300 car with which Schumacher achieved four out of six victories that season. The car is listed at RM Sotheby’s and the auction will take place on August 18 – 20.

The car is in excellent condition and was sold by Ferrari in 1999 to the owner who has now put it up for auction. It has chassis number 187, and driving this car in Canada, Schumacher achieved the fastest lap, but also the most important first victory of that season with an advantage of 19 seconds. He achieved his second victory in France, and his third in Great Britain. The fourth victory came in the Italian Grand Prix.

The Ferrari F300 is powered by a 3.0-liter V10 engine with 805 hp (592 kW). It is equipped with carbon-carbon composite discs, electro-hydraulic 7-speed transmission, independent push-rod, twin wishbones, torsion bar springs, Good Year tires, telescopic shock absorbers and anti-roll bar.

When it comes to the price, the Ferrari F300 is expected to reach the price of 6 – 8 million dollars.

Source: RM Sotheby’s

News

Sebastian Vettel drove a 100-year-old Aston Martin TT1

In 1922, Aston Martin produced its first racing car, the Aston Martin TT1, which premiered at the 1922 French Grand Prix in Strasbourg. Now, 100 years later, four-time World Drivers’ Champion, Sebastian Vettel had the opportunity to drive this unique racing car.

Aston Martin organized an event celebrating 100 years of the TT1 model and Vettel was also present at the event as a member of the Aston Martin Formula 1 team. The car was built with two seats, driver + mechanic, which was standard at the time. The mechanic maintained pressure in the fuel system using a hand pump and fixed problems that might occur during the race. Back then there were no pit stops like we have now in Formula 1.

Aston Martin TT1 is powered by a 1.5-liter 4-cylinder 16v engine with 55 hp (40 kW), which is enough to push the car to a top speed of 85 mph (137 km/h). The TT1 model was not successful on its debut, because after 19 laps it had to leave the race due to an engine failure.

We’re sure Vettel enjoyed driving this unique car, but it was also a privilege.

Source: Aston Martin Aramco Cognizant via Facebook