CEO

McLaren Automotive CEO Mike Flewitt resigns

McLaren Automotive Chief Executive Officer Mike Flewitt will step down after eight years leading the closely held company, which has started a search for a successor.

The Woking, England-based supecar maker said Wednesday that Michael Macht, a McLaren Group non-executive director, will oversee technical and operational functions, while Chairman Paul Walsh will lead sales, marketing and public relations. Flewitt joined McLaren as chief operating officer in June 2012, and became CEO just over a year later.

The carmaker controlled by Bahrain’s sovereign wealth fund Mumtalakat has been repairing its finances after the pandemic halted production and scuppered the Formula 1 racing franchise. In July, McLaren raised 550 million pounds ($755 million) from existing investors and the sale of preference shares and equity warrants to new backers Ares Management Corp. and Saudi Arabia’s Public Investment Fund. It also raised $620 million from a bond issue.

In April, the company sold and

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Akio Toyoda, President and CEO of Toyota Motor Corporation (TMC) is the 2021 World Car Person of the Year.


PHOTO (select to view enlarged photo)

The honor was bestowed by the World Car Awards jury, a panel of more than 90 distinguished international journalists.

The World Car Awards announced: “Akio Toyoda is the charismatic President and CEO of Toyota Motor Corporation, where he has spent years successfully remaking his company. In 2020, under his leadership, Toyota remained profitable, despite COVID-19, thus protecting jobs worldwide. He has maintained Toyota’s steady pace of development for the Connected, Autonomous, Shared and Electric (CASE) era and has initiated construction of the Woven City, an exciting, real-life prototype city of the future. All while actively participating in motorsports himself, as a driver.”

Responding to the World Car Awards, President Toyoda said: “On behalf of all 360,000 Toyota Team members around the world, thank you for this tremendous honor. If you don’t mind, however, I would like to change this award from car ‘person’ of the year to car ‘people’ of

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New Tata Motors CEO won’t join Co; Scrappage incentive scheme rolled out; No toll booths anywhere in 1 year



a bus that is parked on the side of a building: This week in Auto: New Tata Motors CEO won’t join Co; Scrappage incentive scheme rolled out; No toll booths anywhere in 1 year


© PTI
This week in Auto: New Tata Motors CEO won’t join Co; Scrappage incentive scheme rolled out; No toll booths anywhere in 1 year

The government has clarified that there will be no toll booth anywhere in the country within the next one year. This does not mean that there won’t be any tolls. It simply means that the process of toll collection will be completely electronic and vehicles won’t have to stop in long queues to pay toll. More on this later in the copy but first let us see what made headlines in the automotive space this week.

Not everyone enthused by Scrappage incentive scheme

The long-delayed and much-awaited scrappage incentive scheme announced by the government on March 18 has been received with a mix of optimism and doubt by the automotive industry.

While industry bodies which have been lobbying for a faster implementation of the scheme

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Fisker’s Goals Go Well Beyond Simply Chipping Away Tesla’s Market Share: CEO

Bloomberg

Apple Partner Foxconn to Form EV Partnership With Fisker

(Bloomberg) — Foxconn Technology Group will develop an electric vehicle with Fisker Inc., part of the manufacturer’s efforts to boost its automotive capabilities at a time when technology companies including its main customer, Apple Inc., are looking to expand in vehicles.The car will be built by Foxconn, targeted at multiple markets including North America, Europe, China and India, and sold under the Fisker brand, according to a joint statement from the companies Wednesday. Production is set to start in the fourth quarter of 2023.Fisker is looking to break new ground with its second planned model. The startup plans to make a vehicle that doesn’t fit into an existing segment, like a sedan or SUV. Its partnership with Foxconn, a Taiwanese smartphone maker which is new to the auto business, is pinned on hopes that the collaboration will bring innovative manufacturing.“The

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