Hyundai & Kia to pay $200MM

Happy Friday morning. This is Car Alerts with your curated weekly update from across the car world.

In today’s edition:

• Hyundai and Kia settle lawsuit

• China moves up

• NHTSA proposes update

• Geely’s latest investment

• Toyota unveils Tacoma

• Tesla discounts

• Ford recalls Bronco

• Aston Martin teams up with Honda

• & more

📈 MARKETS

📰 HEADLINES

Hyundai and Kia agreed to settle a class-action lawsuit for $200 million after a TikTok trend exposed a security flaw.

China passes Japan as the world’s number one car exporter, fueled by increased demand for EVs and sales to Russia.

The NHTSA proposes an update to its vehicle safety program with testing to measure the safety of people outside of the car.

The U.S. government will not award a $200 million grant to Microvast (a lithium battery company) due to alleged ties to China’s government.

California is taking steps to ban sales of new gasoline-only cars by 2035, starting with asking the EPA for approval.

Ford recalls 175,000 Broncos due to front seat belt problems. The affected models are 5-door body styles from 2021-2023.

Geely invests nearly $300 million in Aston Martin, becoming the third largest shareholder.

Toyota unveils 2024 Tacoma for the North American market. The truck has been completely redesigned and offers a manual transmission. Pricing details are to be announced.

Lordstown Motors announced a reverse stock split to keep their Nasdaq listing.

Tesla is offering discounts of around $1,300 on Model 3 cars to deplete unsold inventory.

1970 Dodge Challenger Black Ghost sells for $975,000 at the Mecum Spring Classic auction.

Aston Martin’s F1 team will be powered by Honda engines starting in 2026.

Brabus debuts the Brabus 930 as its most powerful car ever. The supercar is based on the Mercedes AMG GT63 S E Performance.

😎 COOL CARS FOR SALE

1997 Porsche 993 Turbo S: Air-cooled, red interior.
2003 Mercury Marauder: Low mileage, V8.
1994 Saab 9-3 900SE: Convertible, turbocharged.
1992 Mercedes-Benz 500E: Well-documented, V8.
1986 Chevrolet Monte Carlo SS: Rare “Aero Coupe.”
1991 Datsun Sunny: Compact truck, 4-speed manual.
2022 Ford F-550 Super Duty: Overland camper conversion.

😂 FUNNIES

That’s all we have for you this week. We’ll see you next Friday morning with more car content.

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