The former Saab plant in Trollhattan, Sweden will be used to produce an updated version of the AC Cobra. Get all the latest automotive news in the Executive Briefing.
Today’s headlines:
+ President Donald Trump confirmed that his proposed 25 percent tariffs on goods from Mexico and Canada and 20 percent on goods from China will go into effect on March 4. More at CBT News.
+ Insiders at Nissan say a major shakeup in senior management at the automaker will occur next month, but that so far the position of CEO Makoto Uchida remains secure. More at MSN News.
+ In China, Mercedes-Benz is reportedly eliminating jobs in sales, finance, IT services, and its legal department to achieve a 25 percent reduction in workforce costs by 2027. More at The Economic Times.
+ The IndyCar Series has ambitious plans to expand its audience base in 2025 with new broadcasting partner Fox Sports, with special focus on attracting younger fans. More at Racer.
+ American EV maker Lucid Motors announced that its CEO Peter Rawlinson has stepped down but will continue to serve as a technical advisor to the board of directors. More at Car and Driver.
+ Stellantis gave a cautious outlook for 2025 after its annual results took a hit from a slump last year in its U.S. business that led to the ousting of Carlos Tavares as CEO. More at World Auto Forum.
+ General Motors’ board approved increasing its stock dividend by 3 cents to 15 cents a share, the company reported in a securities filing, signaling an increase in confidence. More at the Detroit Free Press.
+ Tesla sales plummeted 45 percent in Europe last month even as total EV sales rose 37 percent, which observers attribute to CEO Elon Musk’s political activism in multiple countries. More at The Detroit News.
+ AC Cars and T-engineering are partnering to build an updated version of the original AC Cobra in both roadster and coupe versions in the former Saab plant in Trollhattan, Sweden. More at Motor Authority.
+ FIA deputy president Robert Reid and UK rep David Richards were barred from a World Motor Sport Council meeting when they refused to sign a nondisclosure agreement. More at Motorsport.com.
Photo courtesy of AC Cars.
Review the previous MCG Executive Briefing from February 24 here.
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