The U.S. Energy Department on Tuesday awarded a $529 million low-interest loan to a California-based start-up luxury automaker to fund the development of an $88,000 plug-in hybrid vehicle and a future “family-oriented” plug-in sedan.
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Toyota Motor Corp., the biggest seller of hybrid autos, is sticking with nickel as the preferred battery material for most of the vehicles after three years of secretly testing Prius hatchbacks with lithium-ion packs.
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Audi has confirmed at the Paris Auto Show that it is indeed building an electric car. However contrary to previous postings, it will definitely not be based on the A1, but possibly the VW Up! concept.

Audi has confirmed plans to launch a small electric city car, likely to be based on the VW Up! concept.

Peter Schwarzenbauer, who sits on the management board at Ingolstadt, told Autocar “We will offer a pure electric car” at last week’s Paris motor show.

Schwarzenbauer was responding to rumours that Mini is planning an electric version of the Cooper for the LA motor show in November.

He went on to reveal that the small electric Audi “will not be based on the A1”, the firm’s premium supermini, which was previewed by a concept car in Paris.