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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.
New Kia VR7 models for 2014
Thu, 23 Jan 2014Kia Kia has launched VR7 Picanto, Rio and Cee’d special edition models, which provide more equipment than entry-level versions, for a small increase in price. All VR7 special edition cars come with air-conditioning, Bluetooth connectivity, electrically adjustable heated door mirrors and leather steering wheel and gearknob trims. Exterior features include alloy wheels and reversing sensors.
Lada 2107 production ends
Thu, 19 Apr 2012Our friends at Hooniverse.com passed along some very sad news on Wednesday. AvtoVAZ has stopped producing the Lada 2107, also known as the Lada Riva and the Lada Signet. The last one rolled off the assembly line on Monday.