1997 Mitsubishi 3000gt Base Runs Great on 2040-cars

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Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.

Macron and Abe seek to avert messy Renault-Nissan breakup

TOKYO/PARIS – France and Japan's leaders met for bilateral talks to avert a diplomatic row over the Renault-Nissan-Mitsubishi alliance on Friday following the surprise arrest of its Chairman Carlos Ghosn in Japan. With the carmaking alliance facing its biggest test after the ousting of Ghosn at Nissan and affiliate Mitsubishi over financial misconduct allegations, President Emmanuel Macron sat down with Prime Minister Shinzo Abe at the G20 summit in Buenos Aires. Ghosn's arrest to face accusations including the under-reporting of income has triggered new attempts by Nissan to weaken Renault's control of the Franco-Japanese alliance, adding to challenges facing Macron at home. Macron, whose government has repeatedly pressed Japan to share evidence unearthed by Nissan's internal investigation into Ghosn, "restated his firm wish that the alliance should be preserved, along with the stability of the group," an Elysee official said after Friday's meeting with Abe. Abe said it was important to "maintain a stable relationship," according to a spokesman for the Japanese leader. "However, he said the future of the alliance is up to the private-sector shareholders. The government of Japan does not prejudge the future of the alliance," the spokesman said. The French official quoted Abe as telling Macron that "the legal process must be allowed to take its course." LEADERLESS Tokyo authorities on Friday extended Ghosn's detention for a second time, by the maximum-allowed 10 days, local media reported. Prosecutors must file charges by Dec. 10 or arrest Ghosn for new crimes to hold him beyond that date. Tokyo prosecutors declined to comment. Nissan did not immediately respond to a request for comment. Ghosn's detention has left the global auto alliance without its leader and main interlocutor with the French government, which owns 15 percent of Renault and wants to maintain the ownership structure enshrining its control of the partnership. But Nissan Chief Executive Hiroto Saikawa has made clear that Nissan wants to weaken the control of its smaller parent as it carries out a governance review. Renault's 43.4 percent Nissan stake ensures an effective voting majority at shareholder meetings, while Nissan's reciprocal 15 percent Renault holding carries no voting rights.

2022 Mitsubishi Eclipse Cross refresh gives the crossover an Aztek-ectomy

As expected from spy shots, the 2022 Mitsubishi Eclipse Cross has received a styling refresh, and it changes the somewhat controversial rear end. It also brings some tweaks to the infotainment, and for markets outside the U.S. a plug-in hybrid. The big exterior changes are at the back. The Aztek-style split rear window is gone for a conventional single one. The taillights no longer bridge across the middle of the hatch. They do still extend up the rear pillars. The shape of the hatch looks a little different, too, and it helps reduce the stubby look of the Eclipse Cross's tail. From the front and sides, the new Eclipse Cross doesn't seem particularly different. But looking closer, you may notice that the upper lamps are slimmed down and given a steeper angle. They also appear to simply be daytime running lights, while the now larger lower lamps take over actual illumination duty. The main grille is also thinner. On the inside, the main change is to the infotainment system. The screen has grown to 8 inches over the old 7-inch system, and now features a new graphic interface and physical volume and tuning knobs. Not only that, it ditches the touch pad in the center console, opting instead for touchscreen interactions exclusively. To aid this, the screen also sits closer to the front occupants. Mechanically, U.S.-spec Eclipse Cross models are unchanged. They continue to get the turbocharged 1.5-liter four-cylinder making 152 horsepower and 184 pound-feet of torque. It's paired with a CVT and front- or all-wheel-drive. For other markets, Mitsubishi will introduce a plug-in hybrid variant. Details for that will come later, but won't be especially relevant for the U.S., as the company said it has no plans to bring it here. Considering the availability of the Outlander PHEV in America, this seems like an odd decision, but perhaps Outlander PHEV sales haven't been strong enough to merit another PHEV model. The redesigned Eclipse Cross will go on sale in the first quarter of 2021. Pricing has not been announced, but expect it to stay close to the current car's base price of $24,190. Related Video: