According to a Japanese car magazine, Toyota’s MR2 sports car will return as a gasoline-electric hybrid. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   Global demand for lithium batteries is expected to grow five-fold by 2030, according to public-private alliance Li-Bridge, with the U.S. market becoming a $55 billion business. More at Reuters. 

+  Hyundai design director Hak Soo Ha says the carmaker’s $150,000 mid-engine sports car might still make it to production, contrary to earlier reports that the project was dead. More at The Drive.

+   A solid quarterly earnings report from AutoNation, topping analysts’ estimates by a healthy margin, propelled the car dealer network’s share price to a new all-time high. More at CNBC. 

+   NASCAR veteran RIcky Stenhouse Jr. avoided multiple pileups and endured two overtimes to win the Daytona 500 under caution, scoring his first Cup victory since 2017. More at ESPN. 

+   The first 1970 Plymouth Barracuda Hemi produced, a 4-speed coupe that has lived in a private collection in Indiana since 1983, is for sale with an asking price of $2.2 million. More at Motor Authority. 

+   A 2024 Mustang in full camouflage, presumed to be the next GT350 or GT500, was spotted with Shelby American personnel at Spring Mountain Motor Resort n Nevada. More at Motor Trend.  

+   New Jersey Governor Phil Murphy signed an executive order initiating the process of adopting California’s plan to phase out sales of gas-engine cars and light trucks by 2035. More at Autoweek. 

+   According to the Japanese car magazine Best Car, the Toyota MR2 sports car will return as a gasoline-electric hybrid produced by a Toyota-Suzuki-Daihatsu partnership. More at Autoblog.  

+   Mercedes-Benz warned of lower earnings this year amid economic uncertainty, and reports it plans sell more vehicles directly in major markets such as Britain and Germany. More at World Auto Forum.  

+   The FIA, Formula 1’s rules body, has banked $26.7 million in license fees from the 20 Formula 1 drivers and their teams, an amount Red Bull’s Max Verstappen called “absurd”. More at Motorsport.com. 

Photo courtesy of Toyota. 

Review the previous MCG Executive Briefing from February 17 here. 

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