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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.

Better Place EV Battery Swap business goes bust

It seemed like a good idea: take the cost of batteries out of the cost of buying an electric car and instead charge EV owners to use ‘Battery Swap’ stations where depleted batteries could be swapped for fully charged ones in the time it takes to fill an ICE car with petrol. But it’s all gone a bit Pete Tong. Better Place – which partnered with Renault in 2009 to make the battery swap technology viable – has failed to find anyone to add to the $750 million already involved in the project and has filed for bankruptcy.

BMW X6 and 6-series get limited editions

BMW revealed two special edition 2013 models on Thursday: the X6 Performance Edition and 6-series Coupe Frozen Silver Edition. In 2011 the company did the same thing with the BMW M3 Frozen Black Edition. The X6 Performance Edition can be considered an M light.