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Tesla: Factory on track for 2012 Model S launch

At Tesla Motors Inc.'s first annual shareholders meeting since going public last July, Tesla CEO Elon Musk provided a vision of using the full capacity of the former New United Motor Manufacturing Inc. plant it acquired from Toyota. He also discussed a string of electric vehicles and the possibility of a chain of company-owned charging stations and battery-swap facilities.

Toyota Yaris Trend & Yaris Edition launched

Toyota has launched a pair of special editions for summer – the Yaris Trend and Yaris Edition – with cosmetic tweaks. Not content with flogging 100 units of the Toyota Yaris Hybrid to Europcar, Toyota are intent on mopping up more sales with the launch of a couple of special editions – the Toyota Yaris Edition and Toyota Yaris Trend. Both special editions get a blacked-out C-Pillar and privacy glass to give the illusion of a floating roof, a choice of Tyrol Silver or Cirrus White paint and a three or five-door body.

Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.