The global auto industry will invest $1.2 trillion to develop and manufacture electric vehicles between now and 2030, analysts say. Get all the latest industry news in the Executive Briefing.
Today’s headlines:
+ Backing away from previous assertions, Toyota now says its annual production this year will likely come in below the previous target of 9.7 million vehicles due to supply chain problems. More at World Auto Forum
+ With $1 billion in hand, San Francisco startup TeraWatt Infrastructure is building an EV charging nework for medium and heavy-duty trucks on Interstate 10 in the Southwest USA. More at CNBC.
+ The next-generation Mercedes-Benz EQC electric compact due in 2025 will be available in North America, promises management board chairman Ola Källenius. More at Motor Trend.
+ Austrian billionaire Dietrich Mateschitz, co-founder of the Red Bull energy drink empire and founder and owner of the Red Bull Formula 1 team, has passed away at 78. More at National Public Radio.
+ Chevrolet has revised its power and torque ratings for the 2024 Silverado EV electric pickup, boosting the numbers to 754 hp and 785 lb-ft to match the GMC SIerra EV. More at Autoblog.
+ The South Korean business newspaper Hankyung reported that the Kia Stinger, the brand’s high-performance four-door sedan, will be discontinured in April due to poor sales. More at The Drive.
+ General Motors has filed a trademark application with the U.S. government for the name Sidewinder, presumably for its four-wheel steering system for electric trucks. More at Motor Authority.
+ According to analysts at Reuters, the global automakers will invest $1.2 trillion in electric vehicle develpment between now and 2030, more than doubling an estimate from one year ago. More at Reuters.
+ Insiders are speculating that Porsche is currently working on a three-motor version of the Taycan electric GT with 1,000 hp or more and Tesla Plaid-level performance. More at Motor Illustrated.
+ Arrow-McLaren SP will field a fourth entry in the Indianapolis 500 next year, and 2013 Indy 500 winner Tony Kanaan is locked down as the driver, team sources disclosed. More at Racer.
Photo courtesy of Tesla.
Review the previous MCG Executive Briefing from October 21 here.
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