Italian EV startup Aehra unveiled its new luxury electric Sedan, which is scheduled for arrival in 2026. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Volkswagen’s passenger car brand will implement $10.83 billion in savings and cost-cutting measures by 2026 in an effort to hit a return-on-sales target of 6.5 percent. More at Reuters.
+ According to the Consumer Price Index, auto insurance rates have risen 17 percent in the past year, which could be attributed to higher claims and repair costs during the pandemic. More at CNBC.
+ At Stellantis, William Kendell will become the new head of customer experience in North America, replacing David McDonald, a company veteran of 30 years who is retiring. More at The Detroit News.
+ Toyota Racing Development president David Wilson says he is actively working to keep NASCAR Cup driver Martin Truex Jr., who is considreing retirement, in a Toyota next season. More at Jayski.
+ Troubled EV startup Faraday Future announced that it will delay vehicle deliveries and implement a reverse stock split to meet the NASDAQ share price requirement. More at U.S. News & World Report.
+ Dirk Hacker, head of development at BMW’s M performance brand, says dual-clutch and traditional manual transmissions will be phased out after the current M2 model. More at Top Gear.
+ The National Highway Traffic Safety Administration (NHTSA) is advising automakers to disregard the state of Massachussetts’ new right to repair law, citing safety concerns. More at Motor Trend.
+ Ford has filed a patent for an auxiliary electric vehicle battery pack that can be atteched to a roof rack and rented or leased by the user, using a Ford Bronco as the illustration. More at Car and Driver.
+ Italian EV startup Aehra unveiled new luxury electric Sedan, which it says will be available in Europe and the USA in 2026 and will be priced in the $175,000 to $200,000 range. More at Autoblog.
+ Red Bull driver Max Verstappen says that matching Formula 1 legend Ayrton Senna’s total of 41 victories with his win in Canada is “incredible” and hopes he can exceed that mark. More at Motorsport.com.
Review the previous MCG Executive Briefing from June 16 here.
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