Hyundai has formally unveiled the much-awaited Santa Cruz, a four-door compact pickup based on the Tuscon SUV. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ General Motors and partner LG Chem of South Korea are expected to announce the construction of a second EV battery plant in Spring Hill, Tennessee at a cost of $2.3 billion. More at Reuters.
+ Ford board member and former ambassador to Russia Jon Huntsman will have an expanded role with the automaker as vice chair of policy advising CEO Jim Farley. More at the Detroit Free Press.
+ Mercedes-Benz has finally pulled the sheet off its EQS flagship electric sedan, which boasts 516 hp, a 0-60 mph time of 4.1 seconds, and an estimated range of 475 miles. More at Autoblog.
+ According to officials with the Chevrolet and Honda engine supply programs, there are enough engine deals signed to power at least 35 entries in the 2021 Indianapolis 500. More at Racer.
+ A report from The Korea Times says Apple is close to reaching a deal with Canadian manufacturer Magna International and LG of South Korea to produce the Apple electric car. More at Car and Driver.
+ Walmart is investing in Cruise, GM’s majority-owned self-driving vehicle subsidiary, as part of a $2.75 billion funding round that brings the company’s valuation to $30 billion. More at CNBC.
+ By 2025, 96 percent of the Stellantis brands in the USA will have electrified options, with all models offering a fully battery-electric option by 2030, says CEO Carlos Tavares. More at The Detroit News.
+ Hyundai has formally introduced the much-awaited Santa Cruz, a four-door compact pickup with optional all-wheel-drive that first appeared as a concept vehicle in 2015. More at Motor Trend.
+ Formula One officials say there are in “continuing discussions” with the promoter of the Canadian Grand Prix amid reports the event has been cancelled for a second year. More at ESPN.
+ In an apparent reversal of previously stated company policies, Ferrari will offer a fully battery-powered sports car by 2025, says CEO John Elkann, but there are no details as yet. More at The Drive.
Photo courtesy of Hyundai.
Review the previous Executive Briefing from April 12 here.
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