A Texas businessman is selling the rights to the celebrated Cord name at auction with no reserve on June 17. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   Reversing course, Toyota has announced an ambitous development and production program for electric vehicles that includes solid-state batteries and Tesla-style gigacastings. More at Car and Driver. 

+   New vehicle demand from U.S. retail and commercial customers is outpacing expectations, top executives from both Ford and General Motors said separately this week. More at Reuters. 

+   Spy photographers have captured multiple images without camouflage of the 2024 Acura ZDX electric crossover, which is based on the General Motors Ultium EV platform. More at Autoblog. 

+   Formula 1 CEO Stefano Domenicali declared that the current lineup of 10 teams is “more than enough” to meet the sport’s goals, throwing shade on Andretti Autosport’s possible entry. More at FanNation. 

+   Volkswagen technical development chief Kai Grünitz says the European Union’s Euro 7 emissions regulations will kill off manual transmissions in the VW Golf, including the GTI. More at The Drive.  

+   Stellantis has been fined $5000 for an air-quality violation at its new Mack Avenue plant in Detroit, where neighbors have complained of strong paint odors for a year and a half. More at The Detroit News.  

+   EV startup Telo Trucks has unveiled a Mini-Cooper-sized pickup truck with cabover proportions, 500 hp, 350 miles range, a five-foot bed, and  a projected price of $50,000. More at Autoweek.

+   Houston businessman Craig Corbell, who bought the rights to the Cord automobile name for $242,000 in hopes of staging a revival, is selling the rights at auction with no reserve. More at Hemmings.

+   General Motors will build its fourth battery manufacturing plant in New Carlisle, Indiana, around 15 miles west of South Bend, in a $3 billion partnership with Samsung. More at the Detroit Free Press.  

+   Insiders say the NASCAR Cup series will not run on a dirt surface at Bristol again, and that the revived North WIlkesboro Speedway event could become a points race next year. More at Sportsnaut. 

Review the previous MCG Executive Briefing from June 12 here. 

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