Hello, auto enthusiasts! Welcome back to our roundup where we take a thrilling joyride through the latest auto industry news. Buckle up, because we're shifting into high gear!

Dealers and Automakers Question 'Placed in Service' Definition

First up, a controversy has revved up concerning the interpretation of the term "placed in service" as it pertains to electric vehicles (EVs). Under a proposed rule issued in March, the Treasury defined the term as the date the customer takes delivery of the EV. However, two trade groups argue that this interpretation hinders compliance with the credit and diminishes its use, particularly now that increasingly stringent critical minerals and battery component requirements are in effect. Looks like we're starting off with a heated debate!

Lawmakers Shine Spotlight on Auto CEOs over China Supply-Chain Links

Next, we're shifting gears to a geopolitical issue that's causing a stir. U.S. lawmakers are putting the pressure on auto CEOs, voicing their concerns about auto companies' dependence on China, specifically Ford's partnership with Chinese auto battery manufacturer Contemporary Amperex Technology Co. Ltd.. The auto industry has always been a global player, but as they say, with great power comes great responsibility!

GM Makes a Mega Investment in Ohio

Now, here's some big news that's sure to get your engines running: General Motors is investing a whopping $920M to prepare an Ohio engine plant for future production. The automaker plans to more than quadruple the size of the site near Dayton, Ohio. GM is certainly not hitting the brakes on their growth plans!

Vitesco and Rohm Pen a $1 Billion Microchip Deal

In tech news, Vitesco has secured a deal with Japanese microchip maker Rohm Co., locking down more than $1 billion in silicon carbide semiconductors through 2030. Now that's what we call a high-voltage partnership!

BorgWarner Acquires EV Charging Business in Italy

Speaking of electric vehicles, BorgWarner has acquired an EV charging business in Italy for around $80 million. I guess you could say the charge towards electric mobility is truly global!

Tesla Offers Discounts and Free Supercharging

In a move that's sure to spark your interest, Tesla is offering fresh discounts and free Supercharging in their end-of-quarter push. Who wouldn't get a charge out of that?

NHTSA Opens Probe into Hyundai Ioniq 5

On a more serious note, the National Highway Traffic Safety Administration (NHTSA) has opened a probe into the Hyundai Ioniq 5 following reports alleging power loss. We'll certainly be keeping a close eye on this one.

The Complicated 'Mushy Middle' in Automated Driving

Automated driving is often seen as the future of the industry, but it seems we're in a bit of a "mushy middle" when it comes to Level 3 automation. It's a winding road to full automation, folks!

Why Deborah Wahl Left GM

In leadership news, we're all curious about why Deborah Wahl, former Chief Marketing Officer at GM, decided to leave the company. The auto industry is a fast-paced race, and sometimes, pit stops are necessary.

Snoop Dogg's Custom Cadillac Takes Center Stage in Texas

For a bit of fun, did you hear that Snoop Dogg's custom Cadillac is now a centerpiece at a Texas dealership?Talk about a smooth ride!

GOP Seeks to Investigate Biden's Energy Boss

In political news, the GOP is seeking to investigate Biden's energy boss. Like the intricacies of a finely tuned engine, the intersection of politics and the auto industry is always complex.

Microchip Shortage: The Outlook Improves

Finally, some good news! The latest numbers on the microchip shortage indicate an improving outlook. Here's hoping for smooth driving ahead on this issue.

Lithia Makes 2023 Revenue Progress

And to wrap things up, Lithia is showing significant revenue progress in 2023 with a 14-store deal. That's what we call cruising towards success!

That's all for this week's roundup of the latest auto industry news. Be sure to tune in next week for more updates, insights, and high-octane industry chatter. Until then, keep your engines revved and your passion for the auto world in overdrive!