This pristine 1967 Corvette 427/435 hp convertible with only 24,000 miles and Bloomington Gold credentials is expected to bring up to $500,000 at the Mecum Indy auction. Get all the latest auto industry news in the Executive Briefing. 

Today’s headlines:

+   Hedge fund manager David Einhorn of Greenlight Capital has escalated his shareholder value battle with General Motors management with a new website, UnlockGMValue.com. More at CNBC. 

+   Toyota has unveiled the $126 million, 135,000-square-feet expansion of its research and development center in York Township, Michigan, west of Detroit. More at the Detroit Free Press. 

+   The Justice Department has launched a criminal investigation into Uber’s use of a secret software that was used to evade authorities in areas where its service was restricted. More at the Washington Post. 

+   Formula 1 star Fernando Alonso quickly passed all three phases of the Indy 500 rookie orientation program, delivering a performance that team owner Michael Andretti described as “perfect.” More at Racer. 

+   Commercial truckmaker Workhorse has introduced its W15 half-ton pickup with a plug-in hybrid drivetrain, a list price of $52,500, and a claimed range of 80 miles. More at Wired. 

+   The Chevrolet Corvette plant in Bowling Green, Kentucky will suspend public tours for 18 months starting on June 16 while a new paint shop is constructed. More at Hemmings Daily. 

+   Despite burning through $622 million in the first quarter of 2017, Tesla reports that the upcoming Model 3 sedan will go into production on schedule in July. More at Motor Trend. 

+   In Beijing, China, government authorities removed 180,000 older vehicles from its roads in the first four months of 2017 in an effort to reduce congestion and air pollution. More at Reuters.

+   A 1967 Corvette convertible with L71 big-block V8 power and only 24,000 miles will be among the star attractions at the Mecum Indianapolis auction on May 16-21. More at Classic Cars.com. 

+   Retired IndyCar and NASCAR driver John Andretti reported he is undergoing chemotherapy for stage IV colon cancer that has spread to his liver. More at ABC News. 

Review the previous Executive Briefing from May 1 here.

Photo courtesy of Mecum Auctions. 

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