Piëch Automotive hires former VW CEO Matthias Mueller

FRANKFURT — Swiss electric car start-up Piëch Automotive appointed Matthias Mueller, the former chief executive of Porsche and Volkswagen, as its new chairman, the company said on Monday. Founded by Anton Piëch, son of ex-VW chairman Ferdinand Piëch, the Switzerland-based company is preparing to raise funds to launch an electric two-seater sports car equipped with batteries that charge to 80% capacity in under 5 minutes.