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Hyundai reveals i-oniq concept teaser

Hyundai has hinted at its future design direction with this single teaser shot of its ‘i-oniq’ concept car. Further details will be revealed in the run-up to next March's 2012 Geneva show, but judging by this glimpse, the concept will take the form of a large coupe with a hatchback tail. It stops short of the full shooting-brake silhouette, but there’s a hint of Brera in the curvature of its rear end. ‘Two strong arched curves define the silhouette of i-oniq, creating a playful contrast between the sharp character lines and soft but muscular features’ says Thomas Bürkle, Hyundai’s European Chief Designer.

Tesla pays off its government loans

Tesla 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.

Volkswagen teases with sketch of new sedan for Tennessee factory

Volkswagen AG on Thursday released a sketch of the mid-sized sedan that will be built at VW's factory now under construction in Chattanooga, Tenn. The mid-sized sedan, which has yet to be named, will be slightly larger than the Passat. VW plans to build 150,000 units annually when the factory opens in early 2011.