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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.

2018 Mitsubishi Eclipse Cross vs. small crossover SUVs: How they compare on paper

In the midst of the crossover SUV boom, each traditional size segment has become saturated. As a result, automakers are beginning to fill the gaps that separate classes, giving us some interesting in-between options. The all-new 2018 Mitsubishi Eclipse Cross jumps right into one of those in-between categories bookended by compact and subcompact crossovers. It's a niche that offers more space and feature content than the smallest vehicles, with an extra dose of style and a lower price than bigger ones. Because of the Eclipse Cross' in-between nature, though, there's not really an obvious direct competitor. As such, we've selected a diverse group of small crossovers that are similar to the Eclipse Cross in some but not all key areas: size, price, feature content, style and likely buyers. The 2018 Subaru Crosstrek, 2018 Toyota C-HR and 2018 Nissan Rogue Sport each have elements in common, but are different enough to provide useful points of comparison. A chart of specifications and key standard features is shown below, followed by more in-depth analysis. And if you wish to compare these crossovers with others not listed, be sure to check out our comparison tools. Engines and Drivetrains One of the Eclipse Cross' biggest advantages in this segment will be its engine. Subcompact crossovers, including the other three we've chosen, are sluggish to say the least. This new Mitsubishi should be different as it packs a turbocharged 1.5-liter four-cylinder that belts out a whopping 184 pound-feet of torque. We say whopping, because the C-HR, Crosstrek and Rogue Sport all have between 139 and 147 pound-feet. Horsepower is similarly unimpressive at just 152 horsepower - the same as the Crosstrek - but that torque should make passing and on-ramp runs much more satisfying. The appeal of crossovers for many people is the availability of all-wheel-drive, and this is where the Subaru gets an advantage. Like with all Subarus that aren't a BRZ, the Crosstrek has standard all-wheel drive. The Mitsubishi comes close, making all-wheel drive standard on every trim level except the very base ES trim level. On the Rogue Sport, all-wheel drive is an option on all trim levels. Depending on where you live, though, being able to have front drive on a high-trim crossover could be a plus because it will save some money and improve fuel economy. The C-HR loses this battle as it's only available with front-wheel drive.

2023 Japan Mobility Show Mega Photo Gallery: All the highlights and reveals from Tokyo

The 2023 Japan Mobility Show managed to serve up a surprise heap of exciting and futuristic designs and production reveals. Our staff was on the ground in Tokyo for this year's show, where we captured not just all of the latest automotive trends, but some genuinely weird and fascinating stuff.  Browse: Some Delightful Oddities of the 2023 Japan Mobility Show But on to the cars. This year's show featured introductions from Daihatsu, Honda, Lexus, Mazda, Mitsubishi, Nissan, Subaru, Suzuki and Toyota. Some are weird; some are wild; most are probably destined to change significantly before production or merely fade into the void with the rest of the industry's vaporware, but if even a few of these make it to showrooms, we'll consider it a win. Scroll on down for our live galleries of each of the show's major debuts (and cars we're only now seeing in person for the first time). Enjoy!   BMW X2 and iX2 BMW X2 View 6 Photos   Daihatsu me:MO Concept Daihatsu me:MO concept View 14 Photos   Daihatsu Vision Copen Concept Daihatsu Vision Copen View 7 Photos   Daihatsu Osanpo Concept Daihatsu Osanpo View 6 Photos   Daihatsu Uniform Concept Daihatsu Uniform concept View 6 Photos   Honda Prelude Concept Honda Prelude concept View 5 Photos   Honda Sustania-C and Pocket Concepts Honda Sustania-C and Pocket Concept View 8 Photos   Honda CI-MEV Concept Honda CI-MEV View 3 Photos   Infiniti Vision Qe Concept Infiniti Qe concept View 14 Photos   Lexus LF-ZC Lexus LF-ZC View 8 Photos   Lexus LF-ZL Lexus LF-ZL View 10 Photos   Mazda Iconic SP Mazda Iconic SP concept View 8 Photos   Mitsubishi D:X Concept Mitsubishi D:X Concept View 8 Photos   Nissan Hyper Force Concept Nissan Hyper Force concept View 11 Photos   Nissan Hyper Tourer Concept Nissan Hyper Tourer concept View 6 Photos   Nissan Hyper Punk Concept IMG_6533 copy View 8 Photos   Subaru Sport Mobility Concept Subaru Sport Mobility Concept View 7 Photos   Suzuki Swift Suzuki Swift View 5 Photos   Suzuki eWX Suzuki eWX Concept View 3 Photos   Suzuki eVX Suzuki eVX concept View 4 Photos   Toyota Land Cruiser Se Concept Toyota Land Cruiser Se concept View 4 Photos   Toyota FT-3e Concept Toyota FT-3e View 6 Photos   Toyota FT-Se Concept Toyota FT-Se View 7 Photos     Tokyo Motor Show Honda Infiniti Lexus Mazda Mitsubishi Nissan Subaru Suzuki Toyota