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Mitsubishi and NTT to buy 30% stake in HERE digital mapping company

Digital mapping company HERE Technologies sold a 30% stake to Mitsubishi and Nippon Telegraph and Telephone Corp (NTT), diluting German carmakers’ stake to 54% amid uncertainty about the profit potential from autonomous cars. Mitsubishi and NTT will co-invest in the Amsterdam-headquartered company through their newly established, jointly owned holding firm COCO Tech Holding B.V. in the Netherlands, HERE said on Friday. “Their investment also means we are further diversifying our shareholder base beyond automotive, which is important given the appeal and necessity of location technology across geographies and industries,” HEREÂ’s Chief Executive Edzard Overbeek said. The Japanese companies said they would collaborate with HERE to develop services such as ways to tackle road congestion and improve supply chain efficiencies. High definition maps can also be used in fleet management, asset tracking, last-mile delivery, long-distance package delivery by drones and indoor mapping applications, Overbeek told Reuters. Financial details of the transaction, which they said would close next year, were not disclosed. German carmakers BMW, Audi and Daimler saw high definition mapping as a strategic asset and bought HERE from Finnish telecoms group Nokia for around 2.5 billion euros ($2.8 billion) in 2015 to avoid becoming dependent on AlphabetÂ’s Google. FridayÂ’s deal dilutes the stake held by each German carmaker from 25% to just under 18%, HERE said. REALITY CHECK Tech companies and automakers raced to develop self-driving vehicles after Google presented a prototype car in 2012, leading German manufacturers to develop robotaxis as a way to enter the ride-hailing business to take on Uber. However, the technology costs and regulatory hurdles have spiraled, and ride-hailing businesses have struggled to reach sustainable profitability, leading to a reassessment of the business potential of robotaxis and ride hailing. “There has been a reality check setting in here,” Daimler Chief Executive Ola Kaellenius said last month, adding that spending on robotaxis would be “rightsized.” The move comes as BMW and Daimler this week announced they will exit the North American car-sharing market, halting operations in Montreal, New York, Seattle, Washington D.C., and Vancouver, as they focus on the European market. Last year, GermanyÂ’s Continental and Bosch, the worldÂ’s largest automotive suppliers, bought a 5% stake in HERE.

Junkyard Gem: 2002 Mitsubishi Lancer OZ Rally Edition

The Mitsubishi Lancer OZ Rally Edition looked fast, with sporty OZ wheels and some Evo-ish body moldings. In fact, it had the same sewing-machine-grade 120-horse four-cylinder under the hood, driving just the front wheels, as the ordinary commuter-appliance Lancer. Mitsubishi moved enough of these things that you see them from time to time; here's a used-up example in a Denver-area self-service wrecking yard. These cars must have been popular in Colorado, because this is the second discarded example I have seen in a couple of months, following this '03. Rear drum brakes on a 21st-century car badged as a Rally Edition? Yes, rear drum brakes. The original factory cold-air intake is gone, replaced by this innovative rain-gutter-downspout rig. Is there anything you can't fix with sheet-metal screws, zip ties, and duct tape? The single non-appearance-related rally-ish bit here is the five-speed manual transmission. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Around the world, there were other faux-sporty versions of this generation of Lancer. For example, the Thai-market Lancer F-Style. Featured Gallery Junked 2002 Mitsubishi Lancer OZ Edition View 20 Photos Auto News Mitsubishi

2016 Mitsubishi Outlander priced from $23,845

Mitsubishi is on a slight upswing in the US recently after its first, though small, profit in the country in seven years. The company is now reportedly looking to boost its product lineup, and one of the first big changes in a while comes with the launch of the refreshed, 2016 Outlander. Even with significant upgrades for the three-row crossover, the price is actually $200 lower than last year to start at $23,845 (including $850 destination on all models). The most obvious tweak for the 2016 refresh is the Outlander's attractive, all-new front fascia. The crossover now wears a grille that mixes gloss black and chrome slats, and the whole design is outlined in curving chrome that leads down to accentuate the foglights. At the rear, the upgrades aren't quite as drastic, but the addition of LED taillights lends a more modern look. However, the changes are more than skin deep, and Mitsubishi also claims over 100 engineering and design modifications for the vehicle. The engines carry over from last year, and most models get a 2.4-liter four-cylinder with 166 horsepower and 162 pound-feet of torque. It's hooked up to a revised CVT that Mitsubishi claims offers better acceleration and torque delivery. Buyers can choose between either front- or all-wheel drive. The other option is the top-spec GT trim that comes with a 3.0-liter V6 making 224 hp and 215 lb-ft, a six-speed automatic, and all-wheel drive. MITSUBISHI MOTORS ANNOUNCES REDUCED PRICING FOR NEW 2016 OUTLANDER June 02, 2015 — CYPRESS, Calif. Starting MSRP of only $22,995; a $200 reduction in price from the previous model year The 2016 Outlander features Mitsubishi's new dynamic design language and over 100 engineering and design improvements Mitsubishi Motors North America, Inc. (MMNA) today announced pricing for the U.S. version of the new 2016 Mitsubishi Outlander seven-passenger crossover. With a starting MSRP of only $22,995, the 2016 Outlander has a $200 lower starting MSRP than the previous model year, which is notable when considering the amount of design and engineering improvements incorporated into the vehicle. "The 2016 Outlander has a dynamic new design and a long list of engineering upgrades—it literally looks, drives and feels like an entirely new vehicle," said MMNA Executive Vice President, Don Swearingen.