With his victory in the Indianapolis 500, Helio Castroneves joins AJ Foyt, Rick Mears, and Al Unser Sr. as the only four-time winners of the May classic. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines:

+   Electric-truck startup Rivian Automotive, which plans to begin production this year, could target a valuation of about $70 billion in its potential public listing later in 2021. More at Reuters. 

+   The global shortage of computer microchips is forcing the automakers to reexamine their just-in-time parts purchasing policies, which could lead to more in-house production. More at The Detroit News. 

+   Swiss-based investment firm Quantum Group has offered to purchase supercar maker Lamborghini for $11.5 billion after Volkswagen rejected the first offer of $9 billion. More at The Drive. 

+   Helio Castroneves, 46, outran Alex Palou over the closing laps to win the Indianapolis 500 for Meyer Shank Racing and claim a record-tying fourth victory at Indy. More at CBC. 

+   Tesla has enabled a driver-facing camera in some of its Model 3 and Model Y vehicles to ensure drivers are paying attention to the road when they use the Autopilot system. More at CNBC.

+   New York state senator Andrew Gounardes of Brooklyn is advancing legislation that would enable a pedestrian-safety rating system for sport-utility vehicles and trucks. More at Car and Driver. 

+   The annual Mecum Indy auction reported an event-record $107.8 million in total sales and a sell-through rate of 83 percent, with seven sales of more than $1 million. More at Classic Cars.com Journal. 

+   The Geneva Motor Show will return on February 19-27 in 2022, following the cancellation of this year’s event due to the lingering coronavirus pandemic. More at Auto Express. 

+   Ford acknowledged in a letter to reservation holders that production delays are continuing for the 2022 Bronco, citing a shortage of hardtop roofs as a major issue. More at Autoblog. 

+   Moto3 rider Jason Dupasquier died following injuries suffered during qualifying at Mugello in Italy. when the 19-year-old Swiss was hit by another motorcycle after falling. More at the UK Guardian.

Photo courtesy of Meyer Shank Racing. 

Review the previous Executive Briefing from May 28 here.

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