The $17,000 Nio Firefly EV has launched in China and will soon be headed to Europe. Get all the latest automotive news in the Executive Briefing.
+ Insiders say Tesla has delayed the USA launch of its new affordable EV, which is reportedly based on the Model Y crossover but with fewer features and cheaper materials. More at Electrek.
+ Federal Reserve chair Jerome Powell warned that tariffs and trade policies enacted by President Trump are likely to drive up both inflation and unemployment for the rest of 2025. More at CBT News.
+ Tim Kuniskis, CEO of the Ram brand at Stellantis, says the truck maker is planning for 25 product announcements over the next 18 months, with the first coming on June 8. More at Car and Driver.
+ At this past weekend’s NASCAR Xfinity race at Rockingham Speedway, president Bob Sargent suggested that the Cup series could return to the track for the first time since 2004. More at Motorsport.com.
+ Volvo Group plans to lay off as many as 800 workers at three U.S. truck facilities over the next three months due to market uncertainty and demand concerns due to U.S. tariffs. More at World Auto Forum.
+ Shares in Hertz Global surged more than 50 percent on the news that Bill Ackman’s Pershing Square hedge fund had acquired a significant interest in the car-rental company. More at CNBC.
+ Automotive supplier Tribar Technologies will lay off 188 workers as it closes its Wixom, Michigan plant near Detroit following the company’s sale and consolidation. More at The Detroit News.
+ An Audi A6 driver in Brooklyn, New York has received 563 speeding tickets in the past year, including 177 so far in 2025, and has reportedly paid $46,636.60 in fines. More at The Drive.
+ The Nio Firefly electric SUV has launched in China and will soon be headed to Europe with Nio’s battery-swapping techonology and prices ranging from $16,770 to $17,700. More at CarNewsChina.
+ A confirmed 34 cars and drivers from 12 teams are signed on to participate in an open test at the Indianapolis Motor Speedway on April 23-24 in preparation for the Indy 500. More at Racer.
hoto courtesy of Nio.
Review the previous MCG Executive Briefing from April 18 here.
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