This 1978 Porsche 928 driven by actor Tom Cruise in the 1982 movie Risky Business will be offered at the Barrett-Jackson Houston auction. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Trevor Milton, founder and former CEO of Nikola, was charged by a federal jury with multiple counts of fraud for claims he made while promoting the electric truck maker. More at Reuters.
+ Strong global demand for cars boosted Toyota’s sales to a record for June, with production seemingly unfazed by the industrywide shortage of semiconductors. More at The Detroit News.
+ Sources close to General Motors say the slow-selling Camaro muscle car could be killed off in the next few years and replaced with an all-electric performance sedan. More at Car and Driver.
+ The FIA, Formula 1’s governing body, has rejected a formal request by the Red Bull team to review the penalty imposed on Mercedes driver Lewis Hamilton at Silverstone. More at Motorsport.com.
+ Ford raised its earnings guidance for the year after reporting a surprise profit in the second quarter on $24.13 billion in automotive revenue, beating analysts’ expectations. More at CNBC.
+ Mercedes Benz is teasing images of the EQE, its E-Class sized electric sedan that will debut at the 2021 International Motor Show in Munich on September 7-12. More at Autoblog.
+ Electric truck maker Rivian is reportedly scouting a site east of Mesa, Arizona for a second manufacturing plant, a $5 billion investment with the internal name Project Tera. More at The Drive.
+ The 1978 Porsche 928 driven by actor Tom Cruise in the 1982 movie Risky Business will be offered at the Barrett-Jackson Houston auction, which starts September 13. More at Classic Cars.com Journal.
+ Ford has chosen a former A123 Systems facility in Romulus, Michigan, 20 miles southwest of Detroit, as the home for its $100 million Ion Park battery research center. More at the Detroit Free Press.
+ NASCAR teams have begun receiving chassis and related components for the next-generation Cup cars that will be introduced to competition at the start of the 2022 season. More at Fox Sports.
Photo courtesy of Barrett-Jackson.
Review the previous Executive Briefing from July 26 here.
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