Volkswagen will keep the MEB platform under all its current EV models through 2028 with a $1.26 billion investment. Get all the latest automotive news in the Executive Briefing.
Today’s headlines:
+ China Evergrande Group’s electric vehicle unit has suspended volume production of its only model due to a lack of new orders, while many workers reportedly have gone unpaid. More at Reuters.
+ Ford saw its U.S. sales slide in November but marked a significant milestone in its electrification strategy, becoming the number two EV manufacturer behind industry leader Tesla. More at The Detroit News.
+ General Motors and LG Energy Solution Ltd are investing another $275 million in their Ultium battery cell plant in Tennessee to increase production by more than 40 percent. More at World Auto Forum.
+ Former Formula 1 driver Patrick Tambay, who scored two Grand Prix victories for Ferrari and won two Can-Am championships in 1977 and 1980, has passed away at 73. More at Autosport.
+ Chevrolet and GMC have announced prices for the 2023 Colorado and Canyon pickups, with the Chevy Colorado starting at $30,695 and the GMC Canyon based at $38,095. More at Car and Driver.
+ A group led by automotive giant Toyota has gathered up $7 million in private funding and another $7 million from the government to develop a hydrogen fuel cell pickup in the U.K. More at CNBC.
+ Valmet of Finland has begun small-volume production of the Lightyear 0, a partially solar-powered battery-electric sedan with a range of 388 miles and a price of $260,000. More at Autoweek.
+ Two prototypes of the limited-edition Bentley Batur coupe, which boasts 730 hp and a $1.95 million price tag, are undergoing testing in advance of scheduled deliveries in mid-2023. More at Motor Authority.
+ While an 800-volt SSP platform is in the wings, Volkswagen plans to keep the 400-volt MEB platform under all its current EVs through 2028 with a $1.26 billion investment. More at The Drive.
+ Chip Ganassi Racing has signed Formula 2 veteran Marcus Armstrong of New Zealand to pilot its fourth entry on road and street courses, replacing Jimmie Johnson. More at Racer.
Photo courtesy of Volkswagen.
Review the previous MCG Executive Briefing from December 2 here.
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