As scheduled, Jeep has introduced the two-row version of the 2022 Grand Cherokee, which will hit the showrooms later this year. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Troubled EV maker Lordstown Motors has reached a deal to sell most of its 6.2 million-square-foot Ohio factory to Taiwan’s Foxconn Technology Group for $230 million. More at The Detroit News.
+ BMW AG lifted its annual profit margin forecast from 7 to 9 percent to 9.5 to 10.5 percent, reporting that production cuts due to supply chain issues were offset by higher prices. More at Reuters.
+ General Motors announced that the company is on schedule to power its U.S. facilities with 100 percent renewable energy by 2025, five years earlier than expected. More at Newsweek.
+ IndyCar rumors say Toyota, which competed in U.S. open wheel racing from 1996 to 2005, could rejoin the series as the third engine supplier alongside Honda and Chevrolet. More at Racer.
+ In Casa Grande, Arizona, Lucid began production of the long-awaited Air sedan, which features up to 520 miles of range and a list price of $139,000 for its cheapest model. More at Autoweek.
+ As expected, Jeep formally introduced the two-row version of the 2022 Grand Cherokee, including a Trailhawk off-road trim level and a 4xe hybrid model with 375 hp. More at Car and Driver.
+ Rolls-Royce will offer its first all-electric vehicle, the Spectre, in 2023 and plans to be manufacturing EVs exclusively by 2030, says Chief Executive Torsten Müller-Ötvös. More at the Los Angeles Times.
+ Spy photos of what is said to be a convertible version of Chevrolet’s mid-engine Corvette Z06 surfaced, fueling rumors that the performance droptop will return. More at Autoblog.
+ A 1954 Cadillac convertible that served as the royal wedding car for the king and queen of Belgium will be featured at the Bonhams sale in Zoute, Belgium on Oct. 10. More at Classic Cars.com Journal.
+ Formula 1 officials confirmed that the Qatar Grand Prix will fill the vacant slot in the 2021 schedule on November 21-23 as part of a triple-header with Mexico and Brazil. More at Motorsport.com.
Photo courtesy of Stellantis.
Review the previous Executive Briefing from September 27 here.
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