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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.

Nissan and NASA team up on autonomous zero-emissions test fleet

Nissan and NASA have announced a collaboration on autonomous vehicles that, if we're honest, makes more sense to us than Infiniti partnering with Red Bull. The two are commencing a five-year R&D program to explore autonomous drive systems, human-machine interfaces, network-enabled applications, and software analysis and verification. What's more: the test fleet will be zero emissions and rolling around NASA's Ames Research Center by the end of this year. We will assume that means autonomous Leafs, but Nissan could be working on a new vehicle for the purpose. Nissan CEO Carlos Ghosn said the company will begin offering autonomous features "beginning in 2016," and wants to have commercially available self-piloting vehicles that can "navigate in nearly all situations," including urban environments, by 2020. Who better to assist than the people who put a self-driving rover on a planet that never gets closer than 34 million miles away? What does NASA get out of it? Access to Nissan's materials and component developments, prototyping systems, and robotic software test beds. Sounds like everybody wins. The press release below has more information. Nissan and NASA partner to jointly develop and deploy autonomous drive vehicles by end of year SUNNYVALE, Calif. Jan. 8, 2015 - Nissan Motor Co., through its North American-based organization, and NASA today announced the formation of a five-year research and development partnership to advance autonomous vehicle systems and prepare for commercial application of the technology. Researchers from Nissan's U.S. Silicon Valley Research Center and NASA's Ames Research Center at Moffett Field, Calif., will focus on autonomous drive systems, human-machine interface solutions, network-enabled applications, and software analysis and verification, all involving sophisticated hardware and software used in road and space applications. Researchers from the two organizations will test a fleet of zero-emission autonomous vehicles at Ames to demonstrate proof-of-concept remote operation of autonomous vehicles for the transport of materials, goods, payloads and people. For NASA, these tests parallel the way it operates planetary rovers from a mission control center. The first vehicle of that fleet should be testing at the facility by the end of 2015. "The work of NASA and Nissan – with one directed to space and the other directed to earth, is connected by similar challenges," said Carlos Ghosn, president and CEO of Nissan Motor Co.

St. Louis man charged in killing of Illinois college student

A St. Louis man has been arrested and charged with murder in the slaying of a 19-year-old Illinois college student who went missing while trying to sell his sports car on Craigslist, authorities said. Capt. Tim Fagan of the Florissant, Missouri, police department said at a news conference Wednesday night that 24-year-old Michael Gordon was taken into custody Tuesday and was being held at the St. Louis County jail in lieu of $1 million bond. Gordon has been charged with first-degree murder and armed criminal action in the death of Taylor Clark, a sophomore engineering student at Southern Illinois University-Edwardsville. Fagan, the deputy commander of the Major Case Squad of Greater St. Louis and lead investigator in the case, said police arrested Gordon after his name was found in emails Gordon traded with Clark about the car Clark was trying to sell. Investigators said the two did not know one another before they met. Police say Gordon is an employee of a truck driver training center in the St. Louis suburb of Hazelwood, Missouri, not far from where Clark's 2007 Nissan 350ZX and body were found Tuesday. It was not immediately clear whether Gordon has an attorney. Clark, who is from the southwestern Illinois town of St. Jacob, was reported missing by family members on Monday. Authorities say he was last seen by his girlfriend. "Our hearts and minds are with Taylor Clark's family and friends as they cope with this tragic loss," SIU-E Chancellor Julie Furst-Bowe said in a statement issued Wednesday. "At a time of the year when the new spring season brings the promise of brighter days ahead, and commencement provides unending potential for so many of our students, it is truly sad that Taylor had his bright future taken away." The Belleville (Illinois) News-Democrat reported that Clark worked at a convenience store in Troy, where a candlelight vigil was scheduled for Wednesday night. A similar vigil was held Tuesday night on campus. Clark's death comes during the same week as a Monday court hearing in St. Charles County in which a 23-year-old man was sentenced to life in prison for fatally stabbing a 45-year-old St. Louis man during an encounter and planned robbery in 2012 that was set up through a Craigslist ad. On the same day of the hearing, Fairview Heights, Illinois, police unveiled a "safe exchange zone" on its parking lot, complete with security cameras, to help citizens safely broker online transactions with strangers.