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Design Contest: LA Design Challenge 2008

The entrants for the fifth annual Design Challenge, part of the Design Los Angeles automobile designers' conference, have now been announced. Nine Southern California automotive design studios - including Audi, BMW, GM, Honda, Mazda, Mitsubishi, Mercedes-Benz, Toyota and Volkswagen - have been pitted against one another and asked to develop a concept which best answers a brief entitled 'Motorsports in 2025'. "Automotive designers have always been fascinated with motorsports and this year's Design Challenge has provided them with the opportunity to use their creative talent to look at these cars with new eyes, using innovative technologies and approaches," said Chuck Pelly, director of Design Los Angeles and partner in The Design Academy, Inc.

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.

Saab: Forget Pang Da – now it’s Bank of China

Saab - is the Bank of China the White Knight? It’s reported that Victor Muller has now put together a new deal to ‘Save Saab’, involving Youngman and Saab plus the Bank of China. In yet another new deal for Saab, it’s reported this morning that Victor Muller has now put together a new deal to try and save Saab from its (still) imminent desire.