Ford Racing M-19017-b961 Masterpiece Gauge Collection on 2040-parts.com

Shake-up at Tesla; a dozen UK orders

By Tim Pollard Motor Industry 16 October 2008 11:22 Electric car start-up Tesla is restructuring its US operation and laying off around 100 staff, as the credit crunch continues to make life difficult for car companies big and small. It’s now on its fourth CEO in 12 months, as founder Elon Musk takes over from Ze’ev Drori. In an announcement on the chief exec’s blog, Tesla Motors said it would be ‘cash-flow positive’ within six to nine months – but only by increasing production and cutting operating costs.

Boris Dumps the Congestion Charge

Well, not completely – that would be too much to hope for. But London Mayor Boris Johnson has scrapped the recent extension of the Congestion Charging Zone, which took in most of Chelsea, Kensington and Westminster, and was hugely unpopular. Boris scraps the Congestion Charge in Westminster, Chelsea and Kensington The £8 per day charge was the subject of a public consultation, which found that 86% of businesses wanted the congestion charge lifted.

General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.