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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.

Scion announces pricing for 2014 FR-S, tC and iQ

Scion announced pricing Thursday for several 2014 models, including the tC, iQ and a new 10 Series iteration for each Scion model to commemorate the brand's 10-year anniversary. We saw our first glimpse of the 2014 tC, with sharper exterior styling and an upgraded interior, at the 2013 New York auto show. Scion says the tC's updated automatic transmission will shift twice as fast as the outgoing model and includes Dynamic Rev Management technology.

Lotus Evora S and IPS (2010) first news

Lotus has given us the first details of the new more powerful 345bhp Evora S ahead of its debut at the 2010 Paris motor show. It was only last week when we spied the range-topping Evora being put through its paces at the 'Ring, and this news confirms our earlier scoop story. We predicted that the Evora S would push out more than 350bhp, and...