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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.

Salon Prive: Atomik 500 UK Debut

The Atomik 500 - an electric City Car with supercar performance You wouldn’t necessarily think that a Fiat 500 based car would be the sort of thing that would turn up at Salon Prive, much less have its UK debut. But the Atomik 500 is no ordinary Fiat 500 based car. It’s a bonkers electric car promising supercar performance in a city-sized car.

Mercedes-Benz C63 AMG coupe revealed

Mercedes-Benz has followed up the debut of the C-class coupe at the Geneva motor show with the unveiling of this new range-topping version, the C63 AMG coupe. Set to land in North American showrooms in September following a planned debut at next month's New York auto show, the new BMW M3-challenger receives the same updated mechanical package as the recently facelifted C63 AMG sedan. It will be sold from the outset as a 2012-model-year car.