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Tesla pays off its government loans
Thu, 23 May 2013Tesla 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.
Infiniti Essence unveiled at the Geneva motor show 2009
Tue, 03 Mar 2009By Ben Pulman First Official Pictures 03 March 2009 11:38 This is the Infiniti Essence, a petrol-electric rear-wheel-drive coupe with 592bhp. It’s a concept, built to celebrate Infiniti’s 20th anniversary, but also to preview the company’s future design themes and environmentally friendly technologies, both of which will be essential if the badge is to conquer the UK market later this year. It’s not, but the petrol-electric drivetrain is a glimpse of Infiniti’s future power units.
Civic hybrid tests Honda's new strategy
Mon, 06 Jun 2011Despite being the first to sell an electric-gasoline car in the United States and making hybrid technology a centerpiece of its fuel economy push, Honda Motor Co. has yet to have a hybrid hit. But the redesigned Civic Hybrid, launched April 20, is the first test of whether Honda's new strategy of tapping lithium ion batteries and, later, two-motor systems can break the streak.