Ford has unveiled its latest factory drag car, a battery-electric Cobra Jet Mustang with 1,400 hp than can run the quarter-mile in the low 8-second zone. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   The United Auto Workers stand opposed to an early May restart of auto production in the USA, according to a statement released by union president Rory Gamble. More at The Detroit News. 

+   Leaked Chevrolet documents indicate that a flat-crank, 32-valve Z06 version of the C8 Corvette will arrive in 2022, ultimately followed by the 1,000 hp Zora in 2025. More at The Drive. 

+   The base price of Volvo’s Polestar 2 hatchback has been reduced to $61,200 to qualify the EV for purchase incentives in states including New York and California. More at Car and Driver. 

+   Sources at Ferrari have dismissed a report in the UK Guardian that the Formula 1 team is threatening to quit the series if the team budget cap for 2021 is set too low. More at Sky Sports.

+   The Pebble Beach Concours d’Elegance, traditionally held in August each year, joins the long list of automotive events cancelled in 2020 due to the COVID-19 pandemic. More at Hemmings Daily. 

+   SangYup Lee, Hyundai senior vice president and head of its Global Design Center, says a production version of the Prophecy concept EV sedan will debut in 2021. More at UK Auto Express. 

+   Jaguar Land Rover plans to restart some production in Europe beginning on May 18, including at one of its three British car plants and its factory in Slovakia. More at Reuters. 

+   Ford has unveiled  the prototype for its latest factory drag car, a battery-electric Cobra Jet Mustang with 1,400 horsepower that will see action later this year. More at Classic Cars.com Journal. 

+   Lotus, now owned by Chinese carmaker Geely, has a new, more affordable sports car under development, which will be the company’s last internal combustion vehicle. More at CNET Roadshow. 

+   Four-time NASCAR Cup champion Jeff Gordon will come out of retirement to compete in the eNASCAR Pro Invitational Series iRacing event at virtual Talladega Speedway. More at NBC Sports.

Review the previous Executive Briefing from April 20 here.

Image courtesy of Ford Motor Company. 

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