Cadillac’s new luxury compact SUV, the 2025 Optiq, arrives this fall with 300 hp, 300 miles range, and a price tag of $54,000. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ The U.S. Department of Labor has filed a federal suit against South Korean auto giant Hyundai, an parts supplier plant, and a labor recruiter over illegal use of child labor in Alabama. More at Reuters.
+ Toyota announced that it is partnering with fellow Japanese automakers Subura and Mazda to develop a new generation of more advanced and efficient internal-combustion engines. More at Car and Driver.
+ Stellantis CEO Carlos Tavares says the automaker will introduce an affordable Jeep electric vehicle in the USA with a price of around $25,000 to better compete with EVs from China. More at CNBC.
+ Stewart-Haas Racing co-owners Tony Stewart and Gene Haas announced that the four-car NASCAR Cup team will cease operations and close permanently at the end of the year. More at AP News.
+ Nissan has issued a “do not drive” warning to owners of around 84,000 Nissan and Infiniti vehicles from the 2002 through 2006 model years due to risk of exploding airbag inflators. More at The Detroit News.
+ EV maker Rivian is offering substantial discounts on its current R1T pickup and R1S SUV to reduce inventories as it prepares to roll out its 2025 R1 models next month. More at Autoblog.
+ The Federal Trade Commission is defending its new regulations on dealership advertising and finance practices from a court challenge by the National Auto Dealers Association. More at CBT News.
+ Cadillac’s most affordable EV yet, the 2025 Optiq compact luxury SUV, will arrive this fall with 300 hp, approximately 300 miles of range, all-wheel drive, and a price of $54,000. More at InsideEVs.
+ Vietnamese EV maker VinFast is considering a further delay of its planned $4 billion factory in North Carolina as the company struggles to gain favor with U.S. consumers. More at World Auto Forum.
+ Monaco Grand Prix officials are under pressure to find ways to improve its historic street circuit after overtaking proved nearly impossible at this year’s Formula 1 event. More at the Guardian.
Photo courtesy of Cadillac.
Review the previous MCG Executive Briefing from May 27 here.
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