Audi will invest $30 billion through 2018 in an effort to displace BMW as the world’s largest luxury-car producer. Get all the latest auto industry news in the Executive Briefing.
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+ Seven-time Formula One world champion Michael Schumacher is hospitalized in critical condition with a head injury suffered while skiing in Mirabel, France. More at BBC News.
+ Hyundai CEO John Krafcik is leaving the company at the end of the year, to be replaced by David Zuchowski, executive vice president of sales. More at USA Today.
+ Dealertrack Technologies Inc., software provider for car dealerships, will acquire the digital marketing company Dealer.com for around $1 billion, More at Bloomberg.com.
+ STP marketing wizard and veteran Indy car team owner Andy Granatelli has passed away at age 90. More at NBC Sports.
+ Volkswagen AG’s Audi unit will invest $30 billion through 2018 to challenge BMW for the top spot in the luxury market. More at The Detroit News.
+ Global parts manufacturer Aisin will move its Michigan headquarters and 245 employees from Plymouth to Northville Township. More at the Detroit Free Press.
+ Mitsubishi plans to reintroduce the Montero SUV to the USA in plug-in hybrid form and both gas and diesel versions. More at Motor Trend.
+ Dennis Wood, the former owner of Phoenix International Raceway who is largely credited with saving the track, has passed away at 75. More at the Arizona Republic.
+ General Motors and Chinese partner Shanghai Motors are recalling 1.46 million Buick Excelle and Chevy Sail cars to correct a fuel pump bracket defect. More at Reuters.
For the previous Executive Briefing from December 27, click here.