The Lincoln Star electric crossover concept represents a major change in design direction, the company says. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ New vehicle sales in Europe declined for the ninth month in a row in March as supply chain problems and the war in Ukraine crippled production, ACEA reported. More at Reuters.
+ Propelled by strong sales, Tesla reported that its first-quarter net earnings were more than seven times greater than a year ago, beating Wall Street projections by a wide margin. More at The Detroit News.
+ Honda, which recently announced that the Insight hybrid will be discontinued, has introduced a Civic hybrid for Europe that foreshadows the USA model, insiders say. More at Car and Driver.
+ Ferrari Formula 1 driver Carlos Sainz has agreed to extend his contract by another two years in a move that confirms his position with the legendary racing team through 2024. More at Racer.
+ Toyota will invest $383 million in four U.S. plants in Alabama, Missouri, Tennessee, and Kentucky to upgrade its production facilities for four-cylinder internal combustion engines. More at Motor 1.
+ Volvo is investing in Israeli company StoreDot, which is working to develop EV batteries with faster charging speeds that provide 100 miles of range in five minutes. More at Autoweek.
+ General Motors has signed an agreement with MP Materials Corp. to construct a plant to produce alloy and magnets for the automaker’s upcoming electric vehicles. More at the Detroit Free Press.
+ Lincoln’s new Star crossover concept represents a new direction in design, the carmaker says, and predicts the look of four future electric vehicles due by 2026. More at Autoblog.
+ Italian sports car maker Lamboghini announced a production milestone for its Huracán supercar, with 20,000 examples built since the model’s 2014 introduction. More at Motor Illustrated.
+ The traditional field of 33 cars is “pretty much” guaranteed for next month’s Indianapolis 500 despite only 32 entries being confirmed so far, says IndyCar chief Mark Miles. More at Speedcafe.com.
Photo courtesy of Lincoln Motor Company.
Review the previous Executive Briefing from April 18 here.
Lincoln’s new Star crossover concept represents a new direction in design, the carmaker says, and predicts the look of four future electric vehicles due by 2016????
An obvious typo. Thanks for pointing it out.
Tesla has proven all the naysayers wrong. I wonder if there are any shortsellers left or if they are all wiped out.