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Porsche has confirmed that its 918 Spyder supercar will go into production. A concept version of the revolutionary plug-in hybrid model shocked the automotive community when it was displayed at the Geneva motor show in March. The supercar has CO2 emissions of 70g/km and can do 0-62mph in 3.2 secs. Its top speed is 198mph.

German luxury car maker Porsche has today said that Volkswagen’s Chief Production Strategist Matthias Mueller would be Porsche's next Chief Executive, as VW tightens its grip on the company.

The news comes as the boards of Porsche and Volkswagen (VW) meet over competing plans for takeovers and new investors.