BMW has released images of its new X4 crossover, which reportedly will begin production at the company’s Spartanburg, South Carolina plant in 2014. Catch this car biz news and more in today’s Executive Briefing.
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+ General Motors will invest $331.8 million in four plants in Michigan, Ohio, and Indiana to manufacture advanced engines and a new eight-speed transmission. More here at The Detroit News.
+ The century-old Detroit Electric brand has been resurrected for a new Lotus-based, battery-electric sports car to be manufactured in the Detroit area. More here at The Detroit Bureau.
+ The BMW X4 crossover concept, which the automaker calls a “sports activity vehicle,” has broken cover in advance of the Shanghai Auto Show. More here at The Car Connection.
+ China’s state-controlled automaker BAIC has struck a deal to build future products on architecture from partner Mercedes-Benz. More here at Reuters.
+ Four teams will test at Pocono Raceway next week in preparation for the July 7 IndyCar event there, the first race for the open-wheelers at the Pennsylvania track since 1989. More here at Racer.
+ Chrysler has purchased Ford’s former 531-acre proving ground near Naples, Florida, most recently operated by Harley-Davidson, for $17 million. More here at AutoTalk.
+ As sales plummet over 20 percent in Italy, Fiat has stepped up its sales efforts in Germany with deep discounts. More here at Bloomberg.com.
+ Ralph Sanchez, the Cuban-born entrepreneur who created the Miami Grand Prix and Homestead-Miami Speedway, has passed away at 64. More here at The Miami Herald.
For the previous Executive Briefing from April 1, click here.
What are the odds that the Detroit Electric will ever make production?