VW-Porsche Tie-Up Complete in 2010

The long awaited tie-up between German manufacturers Porsche and Volkswagen may be completed, according to German newspaper Die Welt, in 2010 instead of the initially projected 2011. Of course, this new deadline takes into account a very optimistic scenario, in which both the economy and the financial markets offer favorable conditions, VW CFO Hans Dieter Poetsch told the newspaper.

The accelerated merger will seek cost synergies through joint purchase and logistics, closer cooperation in financial services, joint development projects and the use of similar modules in both groups, Die Welt reports via Autonews.

The soon to be formed group will be called "Auto Union", a joint venture that will be led by VW CEO Martin Winterkorn.

The over optimistic CFO goes even further and says Volkswagen will post "very impressive" results for its operating business for the 2009 fiscal year, placing it on the way of becoming the world's number 1 automaker prior to the initial term of 2018, as the company's CEO, Martin Winterkorn said last month.

"The course of the year so far shows that we are excellently positioned, thanks to our multibrand Group model. Even in a particularly difficult phase in the international automotive markets we were able to gain share in key markets. This has further improved our position on our way to the top," Martin Winterkorn, Volkswagen CEO said at the end of last month, when announcing the financial results of the company.

"Thanks to our sound business model, we increased our financial strength despite the adverse environment. This is also evident from our strong net liquidity position," Hans Dieter Potsch added.