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News watch June 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 June 2010• Tesla shares have rocketed 40% on their first day of trading; the company went public this week with the first IPO of an American car company since Ford in the 1950s (BBC News)• GM may sell off its interests in finance arm GMAC and parts supplier Delphi as it seeks to write down its debts (Financial Times)• A Federal judge has approved the $20m sale of a former GM plant in Wilmington to Fisker Automotive; Fisker hopes to build 100,000 cars a year once production hits a peak after launch in 2012. It is using a $529m government loan to fund its launch (Detroit News)Tuesday 29 June 2010• UK business secretary Vince Cable has warned that the car industry is no longer in an emergency – and cannot expect direct government support.

Shell says petrol cars to die out by 2070

The end of the petrol-engined car is nigh, or so says Shell, in its latest New Lens Scenarios report. But don’t worry, there’s no need to panic just yet. The oil giant is predicting the end won’t come until 2070.

Ford names Freeman Thomas as Strategic Design Director

 Long-time DaimlerChrysler designer Freeman Thomas is joining Ford Motor Company from June 1. Thomas, 47, will become director of Strategic Design, reporting to Peter Horbury, executive director of Design, North America. Based in the company's Irvine, California studio, Thomas will lead advanced design teams in both California and Dearborn.