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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.

2015 Nissan Versa Note adds sporty-ish SR trim

The funny, little Nissan Versa Note is getting a new trim level - two, actually - for the 2015 model year. And the one you see above is the sporty-ish Note SR, making its debut at the Chicago Auto Show this week.
Underneath, it's the same Versa Note we've already driven, complete with Nissan's 109-horsepower, 1.6-liter inline four-cylinder engine and up to 40 miles per gallon highway. The SR's changes are purely cosmetic, with a revised front fascia featuring smoked headlamps, standard foglamps and black chrome accents. Those are matched with new dark-finished 16-inch alloy wheels, revised mirrors and side sills, along with a new rear roof spoiler.
A few interior enhancements have been made, as well, with the addition of a "370Z-inspired" leather-wrapped steering wheel, suede-like fabric on the seats with orange accents and a piano-black center stack.

Nissan Rogue Detour uses Google Maps to go create virtual test drive from your doorstep

The best way to evaluate a new car before you buy it is to test drive it. All of the specs and reviews in the world cannot communicate how a car suits you as well as a few minutes behind the wheel. Interesting, then, that according to Nissan, the average buyer spends twice as much time researching new cars online than they do at dealers.
To market its new 2014 Rogue, Nissan has launched an online marketing experience aimed at bridging that gap. Called The Detour, it combines Google Street View and Google Maps to give you a custom-tailored virtual test drive. The neat, uniquely interactive part about Detour is that it allows you to specify a starting and ending location. Thus, you can use the microsite to 'show' the Rogue on your commute, or your favorite stretch of tarmac. To spice things up, Nissan has added some digital effects and set the experience to a song by British rapper M.I.A.
Detour seems to work better on shorter journeys, because it snips out some portions of the route in order to keep the experience from running too long. If you're going to try it out, we suggest using a crosstown journey rather than going cross country. Scroll down to get all of the details on the Rogue's latest marketing campaign, or click here to try it out for yourself.