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Volkswagen to reveal new electric car concept

Volkswagen is due to reveal a one-seat electric car concept in early September as the manufacturer explores its greener future. Part of the on-going project to cut its average fleet emissions  Volkswagen has designed the concept vehicle for limited journeys, with the vehicle due to be unveiled on September 8 in Berlin. There's no word yet as to whether it will appear at the Frankfurt motor show just a few days later, but we'd be surprised not to see it there.

Concept Car of the Week: Nissan NX-21 (1983)

In the early 1980s, with the new millennium still seemingly an age away, Nissan Design America was tasked with imagining the family car of the future, while giving potential buyers a preview of the forthcoming N13 NX and EXA models. The resulting concept would be shown at the Tokyo motor show in 1983. Given confidence by the increasing success and expanding global presence of Japanese cars, including the previous generation N12 NX, Nissan's designers, led by Tom Semple, decided that the NX-21 (for 21st century) was the answer.

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.