This rare 1941 Indian Scout V-twin will be offered at the Bonhams Spring Sale in April. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   Shares in Nissan Motor tumbled 12 percent in Friday trading, their biggest decline in more than two decades, after quarterly earnings undershot expectations by a large margin. More at Reuters. 

+   Two UK subsidiaries of EV startup Arrival, known for its last-mile delivery vans and microfactory manufacturing, have entered administration in the UK with plans to sell off assets. More at Autoweek. 

+   British petroleum giant Shell announced plans to close seven of its hydrogen refueling stations in California this week, leaving only three of its stations in operation in the state. More at Teslarati. 

+   Red Bull Formula 1 team principal Christian Horner faces possible removal after an internal team investigation into “inappropriate behavior” alleged by a female employee. More at The Independent. 

+   Ferrari has filed an application with the U.S. Patent and Trademark Office for a driver’s seat that can slide from the left to the center of the vehicle for track day use. More at The Drive. 

+   South Korean battery supplier LG Chem announced it has established a long-term  supply contract with General Motors for 500,000 tons of cathode materials worth $19 billion. More at The Detroit News. 

+   French carmaker Renault and Chinese rival Geely expect to finalize a joint venture to produce combustion and hybrid engines toward the end of February, insiders say. More at World Auto Forum. 

+   The Clive Wood MBE Collection of more than 40 classic motorcycles will be among the 77 rare bikes to be offered at the annual Bonhams’ April 20-21 Spring Stafford, UK Sale. More at Old Cars. 

+   Ford anticipates $10 million a year in savings by discontinuing its automated parallel-parking feature, which the company discovered is seldom used by car owners. Moire at the Detroit Free Press 

+   According to team president Larry Foyt, A.J. Foyt Racing has not yet solidified its third entry in the Indianapolis 500 alongside the two for Santino Ferrucci and Sting Ray Robb. More at Racer. 

Photo courtesy of Bonhams. 

Review the previous MCG Executive Briefing from February 9 here. 

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