Engine Timing Belt Magneti Marelli 1amtb00214 on 2040-parts.com

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.

Aston Martin One-77 supercar (2009): first official picture

By Ben Pulman First Official Pictures 08 August 2008 00:01 This is Aston Martin’s new One-77, an ultra-exclusive £1.2m supercar-cum-work-of-art. A maximum 77 of these bespoke creations will be produced, hence the name, each one underpinned by an all-new carbonfibre chassis that supports a 7.0-litre V12 and handcrafted aluminium bodywork. One-77 is merely the project’s working title – the fastest, most exclusive Aston supercar ever will have a snappier name by 2009, when deliveries begin.

7th L'argus European Design competition announced

On 21 June 2008, French magazine L'Argus de l'automobile will launch its 7th European Design competition. Students will have to imagine a new vehicle based on the theme: "Invent a vehicle that is useful for society". The deadline for submissions is December 21, 2008.