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Detroit Electric unveils the SP:01

Detroit Electric unveiled its SP:01 electric sports car April 3 in Detroit. The Lotus-based roadster claims 201 hp from its mid-mounted electric motor and a range of up to 180 miles from its lithium-polymer battery pack. The company is headquartered in Detroit’s Fisher Building; it’s led by former Lotus Engineering and Lotus Group execs Albert Lam, Don Graundstadt and Benjamin Boycott.

Young drivers 'can't fit a spare wheel'

AS MANY as 11 out of 20 young people in the 18-24 age bracket admit to not knowing how to change a car tyre, according to a new survey. The data, released by IntelligentCarLeasing.com, will stoke the flames of animosity among older drivers by indicating that the majority of young drivers are operating without basic practical motoring skills. Young men are more confident that they know how to install a spare, with 57.1% claimed they could do so.

Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.