AGP Executive Report
Last update: 2 hours agoSafety Recalls: Hyundai warned owners of 94,622 Genesis sedans to park outside because power-seat motors could overheat and start a fire. Volkswagen is also recalling several thousand EVs over battery-cell defects and advises owners to limit charging to 80%; Toyota recalled about 31,000 RAV4 plug-in hybrids over a software fault that could cut power. Software Shift: Toyota plans to make all 50 models software-defined by 2030, using its Arene platform and over-the-air updates. India Expansion: Hyundai committed $15.5 billion to India through 2032, including a Pune plant expansion and plans for four EVs by 2029. Global Competition: Mexico clarified that its new tariff break on imported car parts applies only to automakers already producing locally, while BYD used the Paris Motor Show to promote new models and plans for 3,000 European fast-charging stations by 2027. Ownership Deal: Penske Automotive agreed to go private in a deal valuing the company at about $16.3 billion.
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