Killer airbags

Happy Friday morning. This is Car Alerts checking in with your curated weekly email of all things cars.

In today’s edition:

• NHTSA pushes for airbag recall

• Former Apple engineer charged by DOJ

• Stellantis plays hardball with Canada

• New SPAC merger

• Pennsylvania-based chip company raises funding

• Chinese EVs winning the price war

• Dodge’s latest recall

• Tesla and others cost California dealers millions

• U.S. cars set record for average age

• Italian car icon passes away

📈 MARKETS

📰 HEADLINES

The National Highway Traffic Safety Administration (NHTSA) calls for a recall of 67 million airbags from ARC Automotive, citing safety concerns from faulty deployment.

The U.S. Department of Justice charged a former Apple engineer for allegedly stealing information and technology about self-driving cars.

Stellantis threatens to move its planned EV factory to America unless the Canadian government matches incentives offered to Volkswagen.

VinFast, a Vietnamese EV startup, is going public through a SPAC merger with Black Spade Acquisition Co. and an astronomic valuation.

iDEAL Semiconductor has raised $40 million in a new round of funding. The investment will go towards developing its energy-efficient power chips.

Chinese EVs threaten legacy automakers as the battle for the lowest price develops in the fastest-growing automotive sector.

Stellantis recalls over 200,000 Jeep Cherokees because their power liftgates can catch fire whether the engine is on or off.

EV companies like Tesla and Rivian cost traditional California dealers hundreds of millions by selling directly to consumers.

The average age of cars in the US has reached record levels, according to S&P Global Mobility. This could be a sign that rising car prices turn consumers off.

Italian automobile-icon, Giotto Bizzarrini, passed away at age 96.

😎 COOL CARS FOR SALE

2002 Mercedes-Benz SL500: Brabus-tuned, rare.
2005 Dodge Ram SRT-10: Low mileage, V10 powered.
1963 Lincoln Continental: Restored convertible
1995 Lotus Esprit S4S: 1 of 145.
1980 Volvo 262C Bertone: Rare, perfect enthusiast project car.
2000 BMW Z8: Black on black, 6-speed.

😂 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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