1993 Mitsubishi 3000gt Base Coupe 2-door 3.0l 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.

Long-serving Mitsubishi president Masuko to step aside

Long-struggling Mitsubishi Motors is reportedly preparing for a changing of the guard at home. According to Reuters, Osamu Masuko will step aside in favor of Tesuro Aikawa, currently the company's managing director. Masuko won't be leaving the fold entirely, however - he will take the role of chairman, displacing Takashi Nishioka, who will resign. The shakeup has not been confirmed by Mitsubishi, but word is that the changes will take effect April 1.
Mitsu's US troubles are no secret, but the brand's struggles in its home market haven't been quite so publicized. The company was bailed out by other arms of the Mitsubishi empire, and it just raised $2 billion this month to buy back preferred shares that were issued during the bailout. Masuko served as president for nearly ten years, during which the brand's US efforts utterly stalled out, recalls cropped up in Japan and an alliance with Daimler (which was DaimlerChrysler at the time) disintegrated.
According to Reuters, establishing the kind of alliances that will allow the brand to grow, such as its tie-up with Renault-Nissan, are key to Mitsu's long-term success. The thought is that an alliance will allow the brand to come up with some innovative models that won't be compromised by its lack of production scale. It looks like Aikawa has his work cut out for him.

Mitsubishi rolls out new Triton pickup [w/videos]

Of all the automakers producing pickup trucks these days, even among just the Japanese automakers, Mitsubishi might not spring to mind first. But maybe it should. The Diamond-Star company has been in the game now for 36 years, selling over four million pickups around the world. These days that comes down principally to the Triton, of which it sold over a third of a million units last year alone for a total of over 1.2 million produced since its introduction in 2005. Now, after nine years on the market, Mitsubishi has launched a new version.
Clearly drawing its stylistic influence (if not the hybrid powertrain) from the GR-HEV concept Mitsubishi showcased at the 2013 Geneva Motor Show, the new Triton aims to combine "the comfortable interior of a passenger car with the functionality and reliability of a pickup." It's more stylish, more comfortable and safer than the model it replaces, and comes in an array of configurations.
Buyers of the new Triton (known in some markets as the L200, among other nameplates it's worn over the years) will be able to choose between Single, Double and Club Cab variants. Powertrain choices will vary by market, but will be based around three engines: a 2.4-liter gasoline unit, a 2.5-liter turbodiesel and a new 2.4-liter turbodiesel with electronic valve timing.