Cadillac reports that the dual-motor, all-wheel driver version of the Cadillac Lyriq EV will boast around 500 horsepower. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Stellantis will invest $2.8 billion to prepare its plants in Brampton and Windsor, Ontario for electric vehicle production, securing the future of the two Canadian facilities. More at The Detroit News.
+ According to the AAA, Diesel fuel prices climbed to an all-time high this past week to a national average of $5.37 per gallon, squeezing the trucking industry and snarling logistics. More at Autoblog.
+ Aston Martin has appointed its third chief executive in three years, with Tobias Moers leaving after only two years to be replaced by former Ferrari boss Amedeo Felisa. More at the UK Guardian.
+ NASCAR Cup driver William Byron has signed a three-year contract extension with Hendrick Motorsports, where he drives the no. 24 Chevrolet formerly piloted by Jeff Gordon. More at Jayski.
+ Battery-powered electric vehicles (BEVs) almost doubled their market share in the European Union in the first quarter of 2021, claiming 8.9 percent of total vehicle sales. More at Reuters.
+ The Biden administration announced that it will provide $3.1 billion in funding to support efforts to manufacture electric vehicle batteries and components in the USA. More at CNBC.
+ Organizers of the Arizona Concours d’Elegance announced that the event will return on January 22, 2023 at the Scottsdale Civic Center as part of Arizona Car Week. More at ClassicCars.com Journal.
+ Cadillac reports that its dual-motor, all-wheel drive version of the Cadillac Lyriq EV will offer around 500 hp, compared to the standard single-motor version with 340 hp. More at Car and Driver.
+ Tony Brooks, a six-time Formula 1 grand prix winner who originally studied to be a dentist and drove for BRM, Vanwall, and Ferrari, has passed away at the age of 90. More at Motorsport Week.
+ BMW posted an increase in first-quarter 2022 profit, boosted by strong pricing and a reevaluation of the German luxury car maker’s stake in its Chinese joint venture. More at World Auto Forum.
Photo courtesy of Cadillac.
Review the previous Executive Briefing from May 2 here.