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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.

Roller coaster or racecar, which pulls more Gs?

Looking for a thrill? You're not the only one. You'll find kindred spirits at airfields going up for a skydive, atop bridges and towers with bungees attached to their feet and standing in line for roller coasters at the local amusement park. But you'll also find them in the paddock at the racing circuit.
So what's the commonality? G-force. It's like gravity, only in each of these cases, it's experienced by human invention. But which activity subjects your body to the greatest amount of g-force? That's what Nissan set to find out.
Before putting them back in the cockpit, Nismo sent out two of its young hot-shoes - Jann Mardenborough and Mark Shulzhitskiy - to an amusement park in the UK with a camera and a g-force meter to find out if any of the coasters could produce as much lateral gravitational force as an LMP2 racing car. See what they found in the pair of videos, below.

World's Strongest Man champion pulls a dozen Nissan Note hatchbacks to set record

On December 1, Zydrunas Savickas, a five-time World's Strongest Man champion, pulled 12 Nissan Notes (the equivalent to our Versa Note) weighing 28,530 pounds over 16.4 feet in 32.9 seconds. The feat, performed in Lithuania at the end of the country's Car of the Year test camp, was enough to secure him the Guinness world record for "Most Cars Pulled By One Man."
"Once I got into my stride pulling the 12 Nissan Notes, [it] was fine," Savickas said after the pull. "Obviously, a big thank you to Nissan for helping me set the record and making it all happen."
"We at Nissan like setting records and are always aiming high," said Taina Erkkilä, Communication Director of Nissan Nordic Europe. "Today we are delighted to have been able to help Zydrunas set another world record and see so many people turn out to support him."