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Tesla pays off its government loans
Thu, 23 May 2013Tesla 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.
Mercedes to set world drifting record at Brooklands
Fri, 17 Jun 2011Mercedes are going after the world drifting record I can’t say we actually knew that there was a world record for drifting a car. But there is. And Mercedes - and driver Mauro Calo – hope it will be theirs after this weekend.
Jaguar designer Ian Callum creating his own Jaguar Mk II
Mon, 11 Mar 2013Jaguar’s Director of Design, Ian Callum, has commissioned Classic Motor Cars to create a very special one-off classic Jaguar Mk II. For those of a certain age, the MK II Jaguar was the car the police used to chase bank robbers. who themselves were driving a MK II Jags, in the 1960s.