Colin Chapmans’ first Formula 1 car, the 1957-58 Lotus 12, is expected to bring more than $300,000 at auction. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Ex-Lordstown Motors CEO Stephen Burns has settled with the U.S. Securities and Exchange Commission over alleged misrepresentations of vehicle orders to investors. More at Reuters.
+ Stellantis has terminated 400 salaried employess in its U.S. engineering and technical operations, stating it needs to focus on its EV and Dare Forward 2030 programs. More at The Detroit News.
+ Adrian Hallmark, the current chief executive at Bentley, has been appointed CEO at Aston Martin, where he will replace current head Amedeo Felisa no later than October 1. More at CNBC.
+ McLaren Racing chief executive Zak Brown has been rewarded for recent progress within the team with a contract extension that will keep him in the position until at least 2030. More at Racer.
+ In advance of the New York Auto Show the new Kia K4 has been revealed, which the Korean automaker confirmed will replace the Forte as the brand’s small sedan in the USA. More at Autoblog.
+ Toyota has filed a patent application for paint that can change color, in which owners or dealerships could use an electrophoretic process to manipulate a vehicle’s finish. More at Motor Authority.
+ The Oak Ridge National Laboratory (ONRL) is working on a fast wireless charging system for electric vehicles using inductive polyphase technology capable of 120 kilowatts. More at Motor Trend.
+ Colin Chapman’s first Formula 1 car, the 1957-58 Lotus-Climax Type 12 with chassis no. 353, is expected to bring more than $300,000 at the Bonham’s Monaco sale on May 10. More at The Drive.
+ The Chrysler unit of Stellantis is recalling nearly 286,000 vehicles in the United States over a manufacturing defect that might cause the side curtain airbag inflators to rupture. More at World Auto Forum.
+ Current NASCAR Cup Series driver and third-generation sprint car racer Chase Briscoe is reopening a 410 sprint car team under the Chase Briscoe Racing banner. More at Jayski.
Photo courtesy of Bonhams.
Review the previous MCG Executive Briefing from March 22 here.
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