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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.

McLaren reveals unique X-1 concept at The Quail

McLaren introduced a one-off supercar at The Quail on Aug. 17. It's named the X-1 and was built for an anonymous car enthusiast.

Exclusive: Anthony Lo to become VP of Exterior Design at Renault

In another exclusive, Car Design News has obtained information regarding Anthony Lo's most recent career move. According to our industry contacts, Lo resigned as Director of Advanced Design at General Motors Europe, handing in his papers yesterday morning. He is now set to become Vice President of Exterior Design at Renault, working under recently appointed Design Director Laurens van den Acker.