Cadillac will add more three more electric models to its lineup in 2023, possibly including a crossover priced under the Lyriq. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Mercedes Benz announced it plans to buy back up to $4.2 billion worth of its shares between March of this year and 2025 as it prepares to report its full-year earnings this week. More at Reuters.
+ Former Toyota chairman Shoichiro Toyoda, the son of the company’s founder Kiichiro Toyoda and the father of current chairman Akio Toyoda, has passed away at 97. More at Autoweek.
+ Tesla is recalling nearly 363,000 vehicles equipped with its Full Self Driving Beta feature for an over-the-air software update to correct a potentially dangerous operating defect. More at the Detroit Free Press.
+ Tony Kanaan, the 2013 Indianapolis 500 winner and a 25-year veteran of Champ Car and IndyCar racing, has announced that he will retire after this year’s Indy race. More at Racer.
+ A suspected catalytic converter thief in Palmdale, California was accidentally run over and killed when the vehicle’s owner woke up and attempted to drive away, police say. More at NBC Los Angeles.
+ Automotive designer Frank Stephenson, the creator of memorable vehicles for McLaren, Ferrari, and others, says artificial intelligence will reduce the available work for designers. More at The Drive.
+ The 2024 Ferrari Purosangue, the storied Italian carmaker’s first crossover SUV, will reportedly be priced at $393,350, not including an additional $5,000 delivery charge. More at Motor Trend.
+ Ford confirmed that it has temporarily halted production and suspended shipments of the F-150 Lightning electric pickup as it investigates a vehicle fire on a company storage lot. More at Autoblog.
+ Cadillac vice president Rory Harvey says Cadillac will add three more electrics this year, which observers believe will include a crossover priced under the Lyriq and an Escalade EV. More at Car and Driver.
+ NASCAR driver Ross Chastain, who won Cup two races for Trackhouse Racing in 2022, has signed a “long-term, multi-year” agreement with the team, owned by Justin Marks. More at NBC Sports.
Photo courtesy of Cadillac.
Review the previous MCG Executive Briefing from February 10 here.
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