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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.

Freeman Thomas: “it's easier to create your own rocket than create your own car”

The Industrial Designers Society of America's ‘Designing Innovation' panel discussion took place in San Francisco yesterday. The event was sponsored by Ford, with strategic design director, Freeman Thomas taking a place on the panel. Having parked a C-MAX Energi and new F-150 in the venue, Ford's influence weighed rather heavily, particularly in the early moments.

Electric Smart (EV) to go in to production

The Smart electric car is to go in to limited production after recent trials You won’t be surprised to learn that after Mercedes 10% stake in Tesla that it is Tesla who are to provide the batteries for the second generation Smart Electric Car. With this technology in place, the Smart EV gets a greater range, shorter charging times and better performance. The press release is big on quotes about the wonders of the Smart Electric, as you would expect.