MCG Executive Briefing for August 4, 2014

??????????????????????????????The season-long drought is over. Scott Dixon came from last to first at Mid-Ohio to score Target Chip Ganassi Racing’s first IndyCar victory of 2014. Get all the latest auto industry news in the Executive Briefing.   -Photo by Michael L. Levitt/LAT for Chevy Racing    

 

 

Links open in new windows

+   At least 69 workers were killed and more than 180 were injured in an explosion at the Kunshan Zhongrong Metal Products auto parts plant in Kunshang, China. More at Bloomberg.com. 

+   As expected, Fiat investors have voted to approve the automaker’s formal merger into Fiat Chrysler Automobiles, incorporated in the Netherlands. More at CNBC.

+   Daimler AG has joined VW’s Audi brand in reducing prices on replacement parts 15 percent in response to a government investigation in China. More at The Detroit News. 

+   With a five-year, $250 million deal, Albert Park in Melbourne is locked in as the home of Formula One’s Australian Grand Prix through 2020. More at the Herald Sun of Melbourne.  

+   Shares of Mobileye NV, an Israeli maker of automotive camera safety systems, soared 48 percent on the stock’s first day of trading. More at Wall Street Journal Market Watch.

 +   Sen. Claire McKaskill (D-MO) has introduced a highway bill with stiff criminal penalties for auto executives guilty of safety code violations. More at the Detroit Free Press. 

+   Following a drop in operating profits, Volkswagen AG has replaced production chief Michael Macht, overseer of the MQB platform, with Thomas Ulbrich. More at Reuters. 

+   The 1927 Bugatti Type 35 owned by model, dancer, and female Grand Prix driver Hellé Nice will be offered at the Gooding & Co. Pebble Beach auction. More at Hemmings Daily. 

+   Scott Dixon started last at the Honda Indy 200 but finished first, scoring his fifth career IndyCar victory on the storied Mid-Ohio road course. More at USA Today.  

For the previous Executive Briefing from August 1, click here.

Have you joined Motor City Garage on Facebook? It’s big fun with rare photos, car lore, trivia, and great discussions! Click here to go the page and join MCG!