Tesla Pays Back Government Loan Nine Years before the Stipulated Time
May 25th, 2013 | Comment nowTesla has declared that it has paid back the complete loaned sum granted to it by the Department of Energy (DOE) during the year 2010 – around 9 years earlier than the stipulated time.
The California based firm wired the remaining sum of around $451 [...]
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Tesla Pays Back Government Loan Nine Years before the Stipulated Time
Article by Ayan Sengupta
Tesla has declared that it has paid back the complete loaned sum granted to it by the Department of Energy (DOE) during the year 2010 – around 9 years earlier than the stipulated time.
The California based firm wired the remaining sum of around $451 million on May 22nd.
The actual loaned sum was $465 million, though with the company’s most recent repayment, in addition to two earlier payments done during the last year and during the initial quarterly period of 2013, the administration has obtained the original sum lent to Tesla plus some in addition to some interest sum.
The concluding loaned sum was made making use of a section of the car manufacturer’s estimated $1 billion in funds lifted in concluding week’s concurrent offerings of ordinary shares and translatable senior notes.
For the initial 7 year period since its launching in the year 2003, the well known auto maker was financed completely with private funds, headed by co-founder and present chief executive officer Elon Musk.
The Department of Energy loan, offered below the administration’s Advanced Technology Vehicle Manufacturing plan, was utilized by the company in order to set up two production plants: one [...]
Ford to Shut Down Australian Production Till 2016
Article by Hamza Ansari
Ford had decided to shut down its both Australian plant till 2016, as had been suffering huge amount of losses due to the growing strength of Australian dollar, high maintenance cost, decline in sales and moreover, the day by day loss accumulating figures on the balance sheet. Chalking out calculations, it was revealed, the manufacturing unit in Australia for Ford was usurping in double the amount of European inputs and, four times to that of Asian facilities, confirmed Bob Graziano, President of Ford Australia.
Closing plant means lay-off as well. Hence, it is touted around 1200 employees will be led unemployed due to the plant closure, which we can say is quite a huge number in itself on seeing the labor power there. As learnt the Geelong based engine manufacturing plant, and also the vehicle manufacturing unit of Broadmeadows, both of which are situated in the state of Victoria, are named for the closure that was producing the model plate Fiesta and Falcon.
Meanwhile, Ford is not rolling up the operations from bespoken continent; hence the dealerships and development to remain unaffected, and this American automaker will carry the further derivations via exports.
Ford had settled [...]
Chevrolet Trax Spied in the Argentina Market
Article by Ayan Sengupta
As per reports, the much awaited Chevrolet Trax has been spied going through tests in the Argentinean market.
The report added that the said vehicle is likely to hit the South American nation by the last half of the existing year (2013). The Chevrolet Trax is already available in the European market.
At the present time, the Trax will be introduced in the budding zones of Latin American market as ‘Tracker’. The compact sport utility vehicle, Chevrolet Trax, is a straight rival of the well known car already in the market, Ford EcoSport.
In addition, the Chevrolet Trax is obtainable with two petrol engine choices that consist of 1.4-litre turbocharged and 1.6-litre normally aspirated; and a diesel mill primarily for Europe with 1.7-litre dislodgment.
The length of the compact sport utility vehicle is just more than 4 metres (4248 millimeter), however we are confident that the auto giant Chevrolet India will attempt and compress it to sub-4m when they settle on to roll out the vehicle here.
With the existing specifications, the Chevrolet Trax will fight straightly with the well known Mahindra XUV500 in addition to the Renault Duster, however size cut will surely provide Trax the more [...]
Blast from the past
2015 Mercedes-Benz S Class Coupe spy shots
The S Class car is likely to follow the 2014 S Class sedan by less than a year, possibly coming just prior to the introduction of a spick-and-span S Class Cabriolet also going on and due by the last half of the coming year. An elongated S Class ‘Pullman’ [...]
BMW i3 To Be Valued Similar To 3-Series
BMW’s forthcoming i3 electric vehicle will be valued close to a sensibly- outfitted BMW 3-Series sedan that means a starting value of approximately $40,000.
This is in proportion to earlier reports, which claimed the company was eyeing a low price point [...]
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‘Hellcat’ Supercharged HEMI V-8 Confirmed: Report
Article by Ayan Sengupta
There was news hitting headlines in the past that Chrysler was making proposals to make a supercharged HEMI V-8 engine to pick up the presentation of its SRT cars closer in proportion to contenders from Ford as well as Chevrolet.
Whilst the sources are yet to witness supercharged HEMI V-8 engine from the auto giant, news of the said engine’s existence is again in news.
As per Chrysler sources, the said supercharged HEMI V-8 substituting 6.2 liters is in progress and is likely to hit markets during the Dodge Challenger SRT8.
The supercharged HEMI V-8 engine is said to be capable of powering levels approaching the 640 HP of the 8.4-liter V-10 in SRT’s Viper super vehicle.
At the 2013 New York Auto Show, SRT chief executive officer (CEO) Ralph Gilles stated that an extreme edition of the Challenger was going on, but didn’t provide more details about what that might involve.
“We obtain loads of requests for the Challenger, not so much the Charger, and we’ve been looking at doing an ACR [American Club Racing] version of that, in due course,” Ralph stated.
“So we will witness something along those lines in a couple of years,” Ralph added up.
As per Automotive News, the innovative [...]
