Trevor Milton, founder and former CEO of electric truckmaker Nikola, was convicted on of three counts of fraud in a federal court in New York. Get all the latest industry news in the Executive Briefing.
Today’s headlines:
+ South Korean carmaker Hyundai will break ground this month on a $5.5 billion electric vehicle and battery plant in Savannah, Georgia with an annual capacity of 300,000 vehicles. More at Reuters.
+ Mercedes-Benz unveiled the EQE electric SUV, which features a 90.6-kilowatt-hour battery and will be offered with three powertrains, including an AMG version with 617 hp. More at Car and Driver.
+ Some of Honda’s 1,100 U.S. franchises are raising objections to plans by the Honda Sony Mobility joint venture to market its electric vehicles online, apparently bypassing dealers. More at Autoblog.
+ NASCAR Cup 2004 champion Kurt Busch, who was sidelined earlier this year by concusion-type symptoms, announced he will not be a full-time driver next season. More at Fox Sports.
+ General Motors recently filed a trademark application for the name Ascendiq with the United States Patent and Trademark Office (USPTO), presumably for a Cadillac EV. More at Motor Authority.
+ A 1969 Shelby Mustang GT500 formerly owned by actor-director Jackie Cooper and Carroll Shelby himself will be offered at the Mecum Auctions Kissimmee sale in January. More at The Drive
+ Nikola founder Trevor Milton was convicted by a U.S. jury of fraud in a case alleging he lied to investors about the company’s electric and hydrogen fuel cell technology. More at CNN Business.
+ Vietnamese EV maker VinFast will recall 730 model VF e34 electric cars, now available only on the company’s home market, to check and replace side impact sensors. More at U.S. News and World Report.
+ Gunther Steiner, team principal at F1 Haas Racing, says Formula 1 is now a “tough crowd” with teams in a close battle for sixth through ninth in the constructor championship. More at Motorsport.com.
+ The formal introduction of the Porsche Macan EV, originally sceduled for late this year, has been postponed until 2024 due to delays in vehicle software development. More at Motor Illustrated.
Photo courtesy of Nikola.
Review the previous MCG Executive Briefing from October 14 here.
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