Jeep unveiled five new concept vehicles for the Easter Jeep Safari, including this customized 1978 Cherokee. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Magna International of Canada is planning a new $100 million plant in Auburn Hills, Michigan north of Detroit to supply seats for future General Motors electric vehicles. More at The Detroit News.
+ Senator Joe Manchin of West Virgnia is threatening to sue the U.S. Treasury deprartment over tax credit provisions for EVs that he says may violate congressional intent. More at Fox Business.
+ Ford has joined PT Vale Indonesia and Zhejiang Huayou Cobalt of China as a partner in a $4.5 billion nickel processing plant in Indonesia, the companies jointly announced. More at Reuters.
+ A NASCAR appeals panel has reduced the penalties assessed against the four Hendrick Motorsports entries, erasing the points deductions but allowing the fines to stand. More at NBC Sports.
+ In a regulatory filing, EV startup Lucid reported that it plans to cut about 18 percent of its workforce or roughly 1,300 employees in a restructuring plan as it ramps up production. More at CNBC.
+ Lamborghini unveiled its replacement for the Aventador, the Rivuelto, boasting a 1,001-hp V12-hybrid drivetrain and a carbon-fiber chassis, though no price has been announced. More at Autoblog.
+ General Motors is building a 30,000 sq-ft facility at the Warren Technical Center called Cadillac House at Vanderbilt where Celistiq buyers can personalize their vehicles. More at the Detroit Free Press.
+ Jeep is bringing five new concept vehicles to the Easter Jeep Safari 2023, including a 1978 SJ Cherokee with a Wrangler Rubicon 4xe chassis and drivetrain underneath. More at Hemmings.
+ The blue Nissan Skyline GT-R driven by the late Paul Walker in The Fast & the Furious movie franchise will be offered at auction by Bonhams in Brussels on April 28-May 5. More at Motor Authority.
+ British American Racing founder Craig Pollock confirmed he has submitted an expression of interest for a Formula 1 team named Formula Equal with 50-50 male and female personnel. More at ESPN.
Photo courtesy of Stellantis.
Review the previous MCG Executive Briefing from March 27 here.
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Doesn’t sound right laying off a bunch of people just as production gets rolling. Indicates the company is short on cash. I hope Lucid makes it. The product looks sound.