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Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Detroit Electric SP:01 (2014) nears production. The next Tesla?

By Tom Gregory Motor Industry 19 June 2014 11:26 New US based electric car maker, Detroit Electric, has been conducting final testing in Europe of its new SP:01 sports car.Described by Detriot Electric as the “world’s fastest production electric vehicle”, the rear-wheel-drive two-seat convertible is now nearing production having initially been unveiled in the USA and China last year. In a word, yes. Much like the equally electric Tesla Roadster, the SP:01 is built on the aluminium chassis of the Lotus Elise and as such, shares more than a passing resemblance with the Norfolk-built sports car.

Scott Dixon aims at a new target

IndyCar racer Scott Dixon first shot a gun at a bachelor party. “Not at the actual party,” he clarified. “It was one of those three-day bachelor parties with a number of activities.” One of which just happened to be shooting.