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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.
2013 New York F1 Grand Prix cancelled
Fri, 19 Oct 2012The 2013 Grand Prix of America in New Jersey has been dropped as organisers run out of time to prepare for the New York street F1 event. With Bernie Ecclestone pushing to get America to fall in love with F1, a headline F1 act on the streets of New York – a Monaco GP for the colonials – looked like a plan. But it’s a plan that’s now been postponed until at least 2014 after Bernie plugged the plug on organisers as they need more time to prepare for what will, by any measure, be a huge logistical task.
2014 Lexus CT 200h gets a price cut
Thu, 23 Jan 20142014 Lexus CT 200h (pictured) gets a price cut The 2014 Lexus CT 200h was revealed at the Guangzhou motor show in China back in November, and now it’s ready to order in the UK with a raft of updates and a price cut across almost the whole range. Now starting from £20,995 for the CT 200h S – £1,00 less than before – the S also sees its emissions reduced to just 82g/km and extra visual appeal with a new grill that makes the car seem wider and lower. Further up the CT 200h range, the F Sport gets the new spindle grill the IS F Sport gets as well as a new spoiler at the back with integrated air ducts.