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Week in Review: EVs, Econo Cars, and One Crazy V-8

We know most of you are gearing up for the holiday weekend, and probably didn't have time to read each and every story, so we've compiled a list of the best stories of the week, shrunk them down, and made it easier for you to read with your no doubt busy schedule. Chrysler kicked off the week with the announcement of a new engine to have its last hurrah before CAFE regulations become enforced, Toyota teased the new 2014 Corolla, and pricing for the Chevrolet Spark EV was announced. Think you can't afford to drive an electric vehicle? Think again. Take a look at the stories below to catch up on everything you may have missed during the week. Paragraphimage Monday, May 20 Chrysler Group is well aware of the CAFE emission regulations that are soon to be enforced, but before that happens, it is going to build one last ozone-incinerating engine, a 6.2-liter V-8 supercharged Hemi that produces around 640 horsepower and is affectionately called the "Hellcat." The new engine will be replacing the 6.1-liter Hemi V-8 that last rolled off the production line in 2010. Chrysler has set its aim on the Ford GT500 and Chevrolet Camaro ZL1 and the new engine will make its debut in the next-generation Dodge Challenger, but it is likely that it will make its way into other vehicles in the group's portfolio. Paragraphimage Tuesday, May 21 For the first time, the redesigned 2014 Toyota corolla has been teased on Facebook. Although we only get a glimpse of the trunk and tail light, it is expected to look very similar to the Toyota Corolla Furia concept that was first seen at the Detroit Auto Show. The actual 2014 Corolla will ditch the carbon fiber for more affordable materials, and will be powered by a 1.8-liter, four-cylinder engine, with the option of a manual, base automatic, or continuously variable automatic transmission. As this is the second most important vehicle in the Toyota lineup, we don't expect the automaker to screw it up. Our only question is how close it will be to the Furia concept verses more traditional styling. Paragraphimage Wednesday, May 22 Even though Tesla only offers one model currently, it has managed to pay off the entire $451.8 million loan from the Department of Energy. Did we mention it managed to do it nine years ahead of schedule?  The automaker has also paid off all interest that was accrued during the three years since receiving the loan. Tesla was able to repay this massive loan thanks to the estimated $1 billion it earned after it sold 2.7 million shares to the public. Although the automaker should be proud of this payoff, it isn't out of the woods yet, but this is a good sign of things to come. Paragraphimage Thursday, May 23 The 2014 Chevrolet Spark EV can be yours for $27,495, but thanks to federal and state rebates, you can expect to have it for a much cheaper price: It's possible to take this car home for under $18,000. Chevrolet says the Spark will have an estimated range of 82 miles when fully charged, and will have the option to be compatible with the all-new DC Fast Charging Port that was recently approved by the SAE. If you're thinking about switching to a purely electric vehicle, it's important to know where the charging stations are located. Luckily, the new Spark EV Waypoint app lets you know where they are. Paragraphimage Friday, May 24 General Motors announced that it will be auctioning off the first production model of the 2014 Cadillac CTS Vsport, where all proceeds will go to the SAE Foundation. The new CTS Vsport will be the first model in the Cadillac lineup to receive an eight-speed automatic transmission, and will be equipped with a Twin-Turbo V-6 engine. Mary Barra, GM vice president, Global Product Development, believes that the SAE Foundation's educational programs are important to instill passion in young scientists and that donating this vehicle in support is fitting. GM has been a long-standing sponsor of the Foundation and will continue to provide support with its volunteers and mentors.
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