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Tesla loses $38 million in third quarter

Tesla Motors, Inc. posted a net loss of $38 million on $431 million in revenue during the third quarter -- a steeper loss on slightly higher revenue than in the second quarter. In the third quarter of 2012, when Tesla was just starting production of the Model S, the automaker lost $111 million on $50 million in revenue.

Infiniti planning to take on Porsche Panamera

Infiniti planning to make the Essence Concept (pictured) in to a Panamer-like Coupe Back in 2009 – ahead of Infiniti launching in Europe – the Infiniti Essence arrived at the Geneva Motor Show as an illustration of what we could expect to see from Infiniti in the future. That was four years ago, but now it looks like the Essence may be on its way to production – after a slight stretch and the acquisition of a couple of extra doors – after Andy Palmer, Nissan’s VP for Future Products, told Automotive News Infiniti is planning a range-topping flagship to take on the Porsche Panamera. The Essence seems a good starting point for that mission; it’s already a big (over 15′ long) swoopy-coupe with a hybrid powerplant consisting of a 3.7 litre turbo V6 and electric motor combination good for 590bhp.

GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.