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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.

Government’s Cash For Potholes Plan Gets Underway

MORE than three million potholes will be filled in by March next year as part of the biggest investment in roads since the 1970s. The Government has set aside £168 million to mend the nation's broken roads, spread across 148 councils. Each council will get a share, but extra money will be given to those which demonstrate "best practice in highways maintenance", including bringing in specialist machinery or setting up dedicated repair teams.

Kia Pop concept (2010) first official pictures

These are the first pictures of Kia's new 2010 electric concept car, the Pop, which is due to make its debut at the Paris motor show on 30 September. Details on the new Kia Pop are sketchy, but at 3m long and with a triple-seat arrangement, it could be that Kia has its sights set on creating a rival to the Toyota iQ. In fact, we can see from the bird's-eye shot that the seating plan mimics that of Toyota's baby with two positions in a front bench and a single rear seat behind the front passenger.