This 1954 Willys pickup will be part of a new exhibit called Designed for Delivery: The Early American Truck, opening on May 20 at the Gilmore Car Museum in Hickory Corners, Michigan. Get all the latest auto industry news in the Executive Briefing. 

Today’s headlines:

+   General Motors Co.’s net income in the first quarter of 2017 jumped nearly 34 percent to $2.61 billion, a new record and well ahead of Wall Street projections. More at The Detroit News.

+   In his 2017 TED talk in Vancouver, Tesla CEO Elon Musk provided a teaser on the all-electric semi-truck the company has been working on since 2016 and will debut this fall. More at Engadget.

+   Michigan-based Lear Corporation, maker of interior and electronic components, has acquired the automotive seating unit of Grupo Antolin in Burgos, Spain. More at Crain’s Detroit Business. 

+   Joe Leonard, who won three AMA Grand National motorcycle championships and earned the USAC title two years in a row driving Indy cars, has passed away at 84. More at Racer.

+   Volkswagen Group plans to spend $11 billion on combustion engines and $9.8 billion on electric drivetrain technology through 2022 in anticipation of stricter emissions standards. More at Automotive News Europe. 

+   Kia Motors will invest $1.1 billion in a manufacturing plant in Anantapur, India, where it will build compact sedans and SUVs specially designed for the Indian market. More at Automotive Business Review. 

+   Shares of U.S. used-auto retailer Carvana, which employs an unusual vending-machine selling format, fell 14 percent on its first day of trading on the New York Stock Exchange. More at CNBC. 

+   German seafood distributor Deutsche See plans to buy a fleet of 80 electric delivery vans from Deutsche Post DHL Group, the German weekly Bild am Sonntag reported. More at Reuters. 

+   On May 20, the Gilmore Car Museum in Hickory Corners, Michigan will unveil a new exhibit called Designed for Delivery: The Early American Truck, featuring light trucks from 1907 to 1963. More at Hemmings Daily. 

+   The Sauber Formula 1 team, currently mired at the rear of the field, will switch to Honda engines for the 2018 season, ending an eight-year relationship with Ferrari. More at BBC Sport. 

Review the previous Executive Briefing from April 28 here.

Photo courtesy of the Gilmore Car Museum.

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