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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 built a Skyline that you can almost live in

The Infiniti Q50 is pretty long in the tooth, but parent company Nissan is still trying to keep things interesting. In Japan it's sold as the Nissan Skyline, and a new concept based on the luxury sedan converts it into a space you could actually live in.  The cumbersomely named Nissan Skyline Contemporary Lifestyle Vehicle Concept adds a slew of convenience features that you should never use while driving. When parked, however, they turn your car into a little living room. For example, there's a little smartphone holder that folds out from the steering wheel so you can prop your screen up and watch a movie. If that's too small a viewing surface for you, the center infotainment touchscreen can be removed from its dashboard perch and used as a tablet. And if that's still too small for you, there's a screen mounted in the headliner above the rear seats. How do you watch a screen in that location? Glad you asked. The front seats, headrests, rear bench and passthrough to the trunk all lay flat in one uniform surface sleeping area. When lying down, the screen will be right above your head. And should you get cold, the driver's door panel pops open to reveal a blanket while the cupholder has a heating element to keep a beverage warm. On the flip side, should you get hot, a button on the inside B-pillar activates the air conditioning so you don't even have to sit up to access the climate control. While awake, you can avail yourself of multiple table surfaces located around the cabin. One folds out from the center console like on a business class airplane seat. A detachable sun visor also turns into a table. Then get a little work done by plugging in to either the 100-volt outlet in the passenger side mirror or an on-board portable battery. Obviously you wouldn't want to get your nice jacket wrinkled as you lounge in the car, so the grab handle above the door expands into a hanger wide enough to keep your coat uncreased. Other clever storage options include an umbrella compartment in the door sill, a bin located in the headrest, and a hands-free kick-activated locker below the rear bumper where a diffuser would reside. Perhaps most superfluous of all is a trash receptacle located in the driver's side mirror. You'd still have to empty it when full, but at least smelly garbage would be outside the car. Oh yeah, there's one final viewing surface, the largest of them all.

Renault-Nissan promises 10 autonomous models through 2020

Renault-Nissan boss Carlos Ghosn promised back in 2013 to have autonomous technology on the road by 2020, and now the automaker has pledged to have more than 10 models ready in that time with varying levels of autonomous capabilities. The company claims it will offer these systems to customers around the world at affordable prices in major markets like the US, Europe, Japan, and China. Renault-Nissan will introduce driverless tech in multiple phases over the next four years. The first step will come later this year with the introduction of a single-lane autonomous system that will be able to go down the highway and manage stop-and-go traffic automatically. The next innovation in 2018 will offer multi-lane capability, and the ability to automatically pass other vehicles on the road. Another big jump will come in 2020 with the ability for models to navigate intersections and urban areas without a driver's control. Renault and Nissan engineers will develop all of this together, and the results will be available in both of the company's brands. Ghosn explained this roadmap towards an autonomous future last year but cautioned that Renault-Nissan didn't plan to take complete control away from owners. Instead, the company sees these systems as a way to make people even safer behind the wheel by reducing the chance for driver error. The automaker's deliberate introduction strategy is prudent because it can potentially adapt to proposed regulations that could mandate rules on how piloted vehicles operate. RENAULT-NISSAN TO LAUNCH MORE THAN 10 VEHICLES WITH AUTONOMOUS DRIVE TECHNOLOGY OVER THE NEXT FOUR YEARS World's fourth largest car group confirms autonomous drive and connectivity timeline through 2020 Fatal and serious injuries have been significantly reduced; new technologies will help make cars even safer Car group hires new executive to oversee connectivity and connected car services globally SUNNYVALE, Calif. – The Renault-Nissan Alliance will launch more than 10 vehicles with autonomous drive technology in the next four years. The global car group confirmed today that it will launch a range of vehicles with autonomous capabilities in the United States, Europe, Japan and China through 2020. The technology will be installed on mainstream, mass-market cars at affordable prices. In addition, Renault-Nissan will launch a suite of new connectivity applications that will make it easier for people to stay connected to work, entertainment and social networks.