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Nissan's purchase of Mitsubishi is officially official

After the company's announcement in May, the Nissan's purchase of a 34 percent stake in Mitsubishi is now official. The deal cost Nissan $2.3 billion, according to the Wall Street Journal, and brings Mitsubishi into the Nissan-Renault Alliance. The company explained that this new partnership will manifest itself in shared vehicle platforms and technology, joint purchasing, and shared manufacturing. Nissan also said that this purchase will make the company one of the three largest companies by volume in the world. Nissan also emphasized that Mitsubishi will very much be a partner in the current alliance with Renault. In addition, Carlos Ghosn, CEO of both Nissan and Renault, has been nominated to be the new chairman of the Mitsubishi board. With Ghosn at the head of the board, current Mitsubishi president and CEO, Osamu Masuko, will remain in his positions but Nissan's current chief competitive officer will join Masuko as co-chief executive officer at Mitsubishi. With these companies now working together, we'll probably start seeing more commonality between Nissan and Mitsubishi products here in the States. It would also be a great opportunity to get some of Mitsubishi's cooler products here. Perhaps Mitsubishi and Nissan will take our hint about the Delica. This article has been revised to clarify that Nissan Motors purchased the stake in Mitsubishi, not the Nissan-Renault Alliance, and to add the value of the purchase. Related Video: News Source: Nissan, Wall Street JournalImage Credit: Issei Kato / Reuters Mitsubishi Nissan Renault renault-nissan alliance

Why Japan's government is looking to curb its adorable kei car market

Each region around the world has its stereotypical vehicle. The US has the pickup and Europe the five-door hatchback; but in Japan, the kei car reigns supreme. These tiny cars are limited to just 660cc of displacement but they've also come with lower taxes to make them more affordable. To make of the most of their small size, they've often had quite boxy styling like the Honda N-One shown above, and because they're Japanese, they've often had quirky names like the Nissan Dayz Roox. However, if the Japanese government has its way, the future popularity of these little guys might be in jeopardy. The problem facing them is that Japan is an island both literally and figuratively. After World War II, the Japanese government created the class as a way to make car ownership more accessible. The tiny engines generally meant better fuel economy to deal with the nation's expensive gas, and the tax benefits also helped. It's made the segment hugely popular even today, with kei cars making up roughly 40 percent of the nation's new cars sales last year, according to The New York Times. The downside is that these models are almost never exported because they aren't as attractive to buyers elsewhere (if indeed they even meet overseas regulations). So if an automaker ends up with a popular kei model, it can't really market it elsewhere. The government now sees that as a threat to the domestic auto industry. It believes that every yen invested into kei development is wasted, and the production takes up needed capacity at auto factories. The state would much rather automakers create exportable models. To do this, it's trying to make the little cars less attractive to buy, and thus, less attractive to build. The authorities recently increased taxes on kei cars by 50 percent to narrow the difference between standard cars, according to the NYT. If kei cars do lose popularity, it could open the market up to greater competition from foreign automakers. Several companies complained about the little cars stranglehold on the Japanese market last year, but since then, imported car sales there have shown some growth thanks to the improving economy. Featured Gallery 2013 Honda N-One View 20 Photos News Source: The New York TimesImage Credit: Honda Government/Legal Honda Nissan JDM kei kei car

Watch some vintage F1 cars blast up a Japanese mountain road

It's a rare treat to see classic Formula One cars racing anywhere, but watching them on a Japanese mountain road is absolutely sublime. The folks behind Motorhead from Japan took over the toll road's twisting stretch of tarmac to turn this impossible dream into a reality. The unusual opportunity of a closed mountain road would be a waste for only two vehicles, and there were plenty of drivers in amazing machines that wanted to blast up the hill. After the vintage F1 cars got their turn, some drifters in a Nissan GT-R and a Toyota GT86 added some tire smoke to the misty mountain air. A couple more GT-R racecars and some modern sports cars eventually joined them. Before the rain hit, this team had quite a party going on. This video features amazing camera work, but the music unfortunately drowns out the chance to hear these amazing racecars. If watching this leaves you wanting more, Motorhead released a video last year of another group of impressive performance vehicles on the mountain road.