A Japanese magazine reports that the Toyota Supra GRMN will receive a 510 hp BMW six but no manual transmission. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines: 

+   A group of investment funds and accounts headed by T. Rowe Price has supplied $2.5 billion to electric pickup maker Rivian, which expects to launch its vehicle by mid-2021. More at CNBC. 

+   General Motors will cut the third shift at its Wentzville, Missouri truck plant after experiencing high absentee rates due to concerns about the COVID-19 pandemic. More at The Detroit News. 

+   While a Raptor model was noticeably absent from the recent Ford F-150 introduction, insiders expect a version of the performance pickup to appear next year. More at Car and Driver. 

+   The Renault Formula 1 team has protested the brake ducts used by the Racing Point team, and the FIA governing authority has impounded the suspected parts. More at ESPN. 

+   Four months after its launch. Tesla has cut the price of its Model Y SUV by $3,000 as the electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic. More at Reuters. 

+   Ferrari has lost a legal battle in the European Union’s Intellectual Protection Office with Ares Design, an Italian custom shop that builds 250 GTO lookalikes. More at Motor Trend. 

+   A Japanese car magazine reports that the long-rumored Toyota Supra GRMN will receive the new M3’s twin-turbo S58 six with 510 hp, but no manual transmission. More at The Drive.

+   To steal some thunder from this week’s rollout of the 2021 Ford Bronco, Fiat Chrysler Automobiles is teasing an image of a Jeep vehicle powered by a Dodge 392 Hemi. More at Autoblog. 

+   Barry Engle, executive vice president and president of GM North America, will depart effective September 1, to be replaced by current Cadillac chief Steve Carlisle. More at the Detroit Free Press. 

+   After a one-race layoff due to a positive test result for COVID-19, NASCAR veteran Jimmie Johnson was cleared to drive when he tested negative in followup tests. More at CBS Sports. 

Review the previous Executive Briefing from July 10 here.

Photo courtesy of Toyota. 

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