Shelby American will build a 50-unit run of Daytona Coupe continuation models, with an aluminum-bodied version offered for $349,995. Get all the latest auto industry news in the Executive Briefing. 

Today’s headlines:

+   MCity, the 32-acre proving grounds for autonomous vehicles created by the University of Michigan, begins operations this week in Ann Arbor. More at Deadline Detroit. 

+   Fiat Chrysler Automobiles is studying the sale of Magnetti Marelli, its electrical components subsidiary, which could net the automaker $3.3 billion. More at Reuters. 

+   The Michigan-based Automotive Hall of Fame will induct racer and industrialist Roger Penske, Ferrari boss Luca di Montezemolo, Indian auto manufacturer Ratan Tata, and Indiana auto pioneer Elwood Haynes. More at the Detroit Free Press. 

+  Marussia Formula 1 driver Jules Bianchi, who had been in a coma since a crash at the Japanese Grand Prix last October 5, has died of his injuries at age 25. More at CNN. 

+   The Takata airbag debacle has now struck Ferrari, which is recalling 814 vehicles in the United States to repair restraint system defects. More at The Detroit News. 

+   Shelby American will build a limited run of 50 FIA Cobra Daytona Coupe continuation cars, priced at $349,995 for an aluminum-bodied model and $179,995 in fiberglass. More at Motor Trend. 

+   Volkswagen AG, which counts China as its largest market, posted the first decline there since 2005 as the nation’s economy slowed. More at Bloomberg.com. 

+   General Motors’ Opel division will cut production at two German factories due to lost sale volume after exiting the plunging Russian market. More at the Business Insider. 

+   Following the poor performance of the GT-R LM Nismo at Le Mans last month, Nissan has placed its endurance racing program under review. More at Autoblog. 

+   Tesla Motors CEO Elon Musk announced that the all-electric Model S sedan is now equipped with a “Ludicrous Mode,” which enables 2.8-second 0-60 mph times. More at Wired.

Read the previous Executive Briefing from July 17 here. 

Photo courtesy of Shelby American. 

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