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VW XL1 SEV to take on the hillclimb at Goodwood Festival of Speed

The super frugal – and super slippery – VW XL1 (pictured) will take on the Goodwood hillclimb Visitors to the Goodwood Festival of Speed can spend endless hours watching a seemingly endless precession of supercars take on the hillclimb. But one supercar this year will be a bit different. Volkswagen are taking their super slippery, super frugal supercar – the VW XL1 SEV – to Goodwood next month and are planning on taking it up the hillclimb in the capable hands of former F1 champion Jacky Ickx.

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.

Tesla offers finance deal on Model S

Tesla Motors has joined forces with USBank and Wells Fargo Bank to create vehicle financing and leasing products that allow consumers to lease a Model S electric sedan for a net payment of about $500 a month after a 10 percent down payment and calculated savings. The 10 percent down payment often will be covered by federal and state tax credits available on electric vehicles. However, the $500 a month payment is an "effective" monthly payment.