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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.

At GM, the tail fin is back--but now it's a blade

Tail fins are making a comeback at General Motors Co., although they are a far cry from the saillike appendages of the 1950s. And this time the company is calling them blades. The look, pioneered on the Chevrolet Volt to improve aerodynamics, will appear on other models to boost fuel economy, said Ed Welburn, GM's global design chief.

Kia plots rear-wheel-drive strategy

Kia is going rear-wheel drive. The company's first-ever production rear-wheel sedan will launch in Korea in the first half of this year. It's code-named “KH,” and it shares a platform with the Equus, Hyundai's top-of-the-line RWD sedan.