Citing people familiar with the situation, the Detroit News reported that Lucid Motors has conducted talks with Ford to have the Blue Oval take over the electric car maker. The talks are said to be in the early stage. Lucid is raising funds to start production of an all-electric and expensive luxury sedan next year.
Tesla’s Elon Musk said on CNBC that shares in his company are higher than “we have any right to deserve.” Later he tweeted that the stock is high based on past and present, “but low if you believe in Tesla’s future. Place bets accordingly.” Tesla shares closed down 2 ½ percent on Monday.
GM is extending the summer shutdown at the Michigan plant that produces the Chevy all-electric Bolt and the Chevy Sonic. The move was taken to bring inventories in line with demand. In the past month, supplies of the Bolt rose to 111 days from 104 days, according to Reuters. Ninety days is considered normal.
Fiat has now been making the model 500 for 60 years believe it or don’t. There are various celebrations to mark the event in Europe, and a 500 has joined the permanent collection of the Museum of Modern Art in New York. Fiat has sold four million units of the original model, and two million of the current one worldwide.
Chrysler is now a sponsor and supporter of “Sesame Street.” In addition to sponsoring the show on PBS, Chrysler is creating a multimedia campaign that will pair Sesame characters and the Chrysler Pacifica and Chrysler Pacifica Hybrid in 10 videos for parents that will launch on Monday, July 17 across the brand’s digital and social channels, including Facebook, Twitter and Instagram.