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Porsche to build 918 Spyder

Porsche today announced that it will build the 918 Spyder, a road legal version of the 718bhp hybrid sports car that made its debut at the Geneva motor show last year. The company says the hybrid sports car will be limited to just 918 examples and be offered in left-hand drive only in order to ensure exclusivity of the new model. Based on a carbon fiber-reinforced plastic monocoque, the 918 Spyder's design DNA is derived from the Carrera GT and Porsche 917 race car as well as the RS Spyder.

2015 Mercedes-Benz C63 AMG may pack 480 hp

Mercedes-Benz's new-from-the-ground-up 2015 C63 AMG has reached a final stage of durability testing, with prototypes hitting public roads near company's technical center in Germany. The BMW M3-fighting four-door is will debut at the Paris motor show in September. The new twin-turbocharged 4.0-liter V8-powered performance sedan is set for North American sale exclusively in its rear-wheel-drive-only guise.

Tesla pays off its government loans

Tesla paid off the last of its $465 million government loans May 22, nine years ahead of schedule, thus outperforming most U.S. college graduates and the vast majority of American homeowners. Tesla used funds from a stock offering to finish the loan with a whopping bank transfer of $451.8 million Wednesday, pointing out that it was “…the only American car company to have fully repaid the government.” Apparently no one at Tesla was even born when Lee Iacocca paid off Chrysler's $1.2-billion government bailout ahead of schedule back in 1983.