This 1962 Ferrari 250 GTO is expected to fetch more than $60 million at an RM Sotheby’s auction in New York. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Shares in Vietnamese EV startup Vinfast lost more than half their value in trading last week, dropping the automaker’s market capitalization from $85 billion to $35 billion. More at Reuters.
+ After two recent crashes in San Francisco, the California Department of Motor Vehicles has asked the General Motors Cruise unit to reduce its self-driving taxi fleet by half. More at The Detroit News.
+ The North Carolina Division of Motor Vehicles filed more than 400 criminal charges against the employees of Nissan of Shelby, citing improper title work and undisclosed vehicle damage. More at WSOC-TV.
+ Citing dangerous track conditions and a lack of response by NHRA, Top Fuel teams and drivers boycotted the second round of qualifying at the Lucas Oil Nationals in Brainerd, Minnesota. More at Autoweek.
+ Lamborghini unveiled the Lanzador concept, an electric crossover coupe with 1341 horsepower that the carmaker says previews its first EVs scheduled to arrive in 2028. More at Car and Driver.
+ Ford is quietly training white-collar workers for duties in its parts distribution centers in preparation for a potential strike by the United Auto Workers, currently negotiating a new contract. More at The Autopian.
+ After the Chinese electric vehicle maker reported flat revenue and a larger than expected $384.5 million loss in the second quarter, shares in Xpeng fell more than 7 percent. More at CNBC.
+ A consortium of Ford and South Korean companies has announced plans to build a $887 million plant in Becancour, Quebec to produce materials for electric vehicle batteries. More at World Auto Forum.
+ A factory-raced 1962 Ferrari Series 1 330 LM/ 240 GTO is expected to bring more than $60 million at the RM Sotheby’s Modern and Contemporary Art sale in New York in November. More at Car.
+ Ashlea Albertson, 24, an Indianapolis-based TQ midget driver for Tony Stewart Racing, was killed in a highway accident as a passenger in a reported road rage incident. More at IndyStar.
Photo courtesy of RM Sotheby’s.
Review the previous MCG Executive Briefing from August 18 here.
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