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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.

Mercedes Ener-G-Force: It’s a future Mercedes G-Class

Mercedes-Benz has revealed the Mercedes Ener-G-Force Concept – a tease for a future Mercedes G-Class to rival the Range Rover. For starters, the Ener-G-Force Concept is arriving at the Los Angeles Auto Show later this month all dressed up as a Highway Patrol Vehicle as Mercedes’ entry in to the Los Angeles Auto Show Design Challenge. But it’s also pointing firmly towards Mercedes plans to give Land Rover – and in particular Range Rover – a run for their money.

Ford Focus ST (2012) at the Frankfurt motor show

On the eve of the 2011 Frankfurt motor show, Ford has unveiled two ST models, the Focus ST hot hatch and the Focus ST Wagon. Ford unveiled a bright orange Focus ST concept at the Paris motor show 12 months ago, but this 247bhp car is the real thing and will go on sale in April 2012. What do we know about the new Ford Focus ST?