Iran’s mil­lion-dol­lar wheels

NT News - Motoring - - FRONT PAGE -

IRA­NIAN Pres­i­dent Mah­moud Ah­madine­jad’s 1977 Peu­geot 504

has re­ceived a $1 mil­lion bid af­ter the car was put on an in­ter­na­tional auc­tion on Jan­uary 1.

Iran state me­dia re­ported the pro­ceeds of the one-month long auc­tion will go to fund a project to build 60,000 homes for the dis­abled and to needy women who are pro­vid­ing for their fam­i­lies.

Ah­madine­jad had made a point of be­ing seen in the gleam­ing white Peu­geot 504 sedan when he was Tehran mayor and be­fore be­com­ing pres­i­dent in 2005. He has rarely used the car in the past years, prob­a­bly be­cause of se­cu­rity mea­sures.

Though hardly a clunker, the 1977-make car will be up for grabs at an in­ter­na­tional auc­tion in Fe­bru­ary in the south-

western city of Abadan. TESLA Mo­tors says the low cost of its lithium-ion bat­ter­ies will make its Model S profitable de­spite pro­jected sales of just 20,000 ve­hi­cles a year.

The com­pany ex­pects the bat­ter­ies to cost $200 a kW hour, com­pared with the $750/kWh Nis­san says it will cost for bat­ter­ies for its all-elec­tric Leaf.

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