Automotive News, Car News

Inspite of a $2 billion lawsuit launched by several U.S. hedge funds, the integration of Porsche Automobil Holding SE into Volkswagen AG is well on track, assured VW’s CEO on Tuesday.

“We will stick to the (2011) timetable for the integration of Porsche,” said Martin Winterkorn, who also serves as CEO of heavily indebted Porsche SE.

Following a takeover fiasco of the much-larger VW Group, Porsche SE was forced to turn to Europe’s largest automaker for a bailout after amassing more than 10 billion euros in debt.

 Winterkorn said the timetable for a truck alliance of Scania and MAN, which both have VW as their largest shareholder, involved “very concrete” steps, but he declined to share further details.

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