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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.
VW Touareg R-Line arrives & Volkswagen cut price of VW CC
Thu, 24 Jan 2013Volkswagen has launched the Touareg R-Line in the UK with sporty looks and extra equipment, and cut the price of the VW CC. A lot of VW’s SUVs – big and small – do conspire to look a bit bland in standard guise, so to give sales a bit of a boost VW is busy rolling out the R-Line option to tart up their cars a bit. Latest to arrive is the VW Touareg R-Line – Volkswagen’s biggest SUV – which gets the full R-Line makeover with a sporty take on the Touareg’s look by adding new butch bumpers and side skirts, the addition of a set of 20″ Tarragona alloys, R-Line badges – inside and out – and panoramic roof.
Audi R8 E-tron (2012) sets new 'Ring record
Mon, 02 Jul 2012Audi has set a new electric road car lap record of 8:09:099 minutes around the Nurburgring Nordschleife in Germany. The fully electric supercar isn't just a concept though - it's gearing up for sales before the end of 2012. How did the R8 E-tron lap the 'Ring so fast?