2008 Mitsubishi Lancer Evo Gsr on 2040-cars

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Mitsubishi reportedly plans to spend billions to get back in the game

Japanese automaker Mitsubishi Motors reportedly plans to inject more than 600 billion yen ($5.35 billion) in capital spending and research and development over the next three years through fiscal 2019 in a bid to turn around its business after recent scandals. The Nikkei newspaper said the new plan calls for spending 5 percent of annual sales on equipment and the same proportion on R&D. Funds will be used by the company for the development of electrified vehicles such as the new e-Evolution concept and for production in China and Indonesia. Mitsubishi Motors will release the specifics of the new medium-term plan on Wednesday, the business daily said. ($1 = 112.1600 yen) Reporting by Sumeet Gaikwad Related Video: Image Credit: Reuters Earnings/Financials Green Plants/Manufacturing Mitsubishi Technology Emerging Technologies Electric research and development nikkei

Junkyard Gem: 1983 Mitsubishi Starion

Americans had been buying Mitsubishis with Dodge or Plymouth badging for more than a decade when the first Mitsubishi-badged cars began showing up on these shores. For the 1983 model year, Mitsubishi USA offered the Cordia, the Tredia, the Mighty Max, and the Starion; the latter was a futuristic-looking rear-wheel-drive sports car that took direct aim at potential buyers of the Supra, the 280ZX, the RX-7, and even the Camaro. Here's a rare first-year "narrow-body" Starion in a Denver self-service wrecking yard. Even though every Starion sported a turbocharged engine, the word TURBO was considered so magical during this era that no self-respecting car company in 1983 would have refrained from adding at least a couple of TURBO badges. Later Starions (and Conquests) even had TURBO badging sewn into the seat belts. In 1983, the Starion's 2.6-liter Astron packed 145 horsepower, which compared favorably to the optional 175-horse engine in the much heavier 1983 Camaro Z28 (the base Z28 engine made 150hp). The 280ZX cost more and offered 145 horsepower; the 280ZX Turbo cost lots more but had 180 horses. This car looks tired but not rusty. The pins stuck into fuel-injection electrical connectors tell a sad story of its final days on the road; a frustrated owner tried to use a multimeter to figure out hard-to-diagnose electrical woes. Auto-reverse was a high-end audio-system feature in 1983 cars. Mitsubishi made (and still makes) plenty of good consumer electronics, so the sound systems in these cars were considered high-quality stuff for their time. I shot this car with a circa-1983 cereal-box-prize film camera, because it seemed like a good idea. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. With music by Osamu Kitajima and artwork by Shuse Nagaoka (whose work you may know from all those 1970s ELO and Earth, Wind & Fire album covers), the Japanese-market ad for this car reveals its SUPER POTENTIAL.

FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger