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Former Mitsubishi CEO Osamu Masuko dies at 71

TOKYO — Former Mitsubishi Motors Chief Executive Osamu Masuko, who engineered the Japanese automakerÂ’s alliance with Nissan, has died. He was 71. Masuko was named a special adviser to the company when he resigned for health reasons as of Aug. 7. Mitsubishi said he died of heart failure on Aug. 27. Masuko joined with former Nissan Chairman Carlos Ghosn in forming an alliance in 2016. Ghosn was arrested and charged with alleged financial misconduct in late 2018, but skipped bail and fled to Lebanon. After he was named president of Mitsubishi Motors in 2005, Masuko worked hard to rebuild its brand image, which had been hammered by a massive, systematic and decades-long cover-up of defects that surfaced in the early 2000s. Calm and soft-spoken, Masuko came to symbolize Mitsubishi Motors' revitalization. Masuko had said he was stunned and saddened by Ghosn's arrest. “I still canÂ’t figure out why, and I just donÂ’t understand,” he told reporters then. Nissan Chief Executive Makoto Uchida offered his condolences. “His wisdom and foresight will remain as an inspiration to the automotive industry, and we will always honor his memory,” Uchida said, stressing his role in building the alliance as well as other contributions to the overall auto industry. Mitsubishi's alliance with Nissan and Renault of France was seen as an astute move, giving the automakers an edge in an increasingly competitive global market. “During his tenure for about 16 years at MMC, Masuko made great achievements by fully demonstrating his management skills, which also enabled the company to overcome difficulties,” Mitsubishi Motors said. Masuko helped build the companyÂ’s business in Southeast Asia, a key source of growth. He also aggressively pushed the development of greener models. Masuko studied political science and economics at Waseda University and did not have an engineering background. He joined trading company Mitsubishi Corp. in 1972. In 2004, he joined Mitsubishi Motors, which makes the Pajero and Outlander sport utility vehicles, as managing director of its overseas operations. Tokyo-based Mitsubishi Motors said it is not planning any special services, respecting MasukoÂ’s wishes. The family has already held a vigil and funeral, it said. Related Video:

Mitsubishi Outlander PHEV now for real due in 'late summer, early fall'

Any day now, American plug-in vehicle shoppers will be able to actually buy a plug-in hybrid SUV. Europeans and Japanese buyers have had this option for many years, since the Mitsubishi Outlander PHEV went on sale in those markets in 2013. There have been plenty of diversions in the route that is bringing the big PHEV to our shores, but it's looking like, "late summer, early fall," is when thing will for real happen. 10-20 percent of total Outlander sales would be "a very good number." That's the message from Don Swearingen, executive vice president of Mitsubishi Motors North America (MMNA), who we spoke to at the New York Auto Show where the PHEV made its debut appearance. Swearingen said that the dealers are as ready as the customers. "As we talked to our dealer council, they are all very interested in this product," he said. "[Range anxiety was] eliminated with this vehicle, and because of that, I think we are going to have some pretty good response." Swearingen didn't put a specific number to that claim, but said that 10-20 percent of total Outlander sales (which currently sit at around 2,000 a month) would be "a very good number." Previously, Mitsubishi representatives said they expected to sell 4,000 PHEV units in the first year. As we've documented over the years, there were a number of reasons for why the US didn't get the first batch of Outlander PHEVs. One of the big ones was that the PHEV was selling like gangbusters elsewhere. It's the best-selling PHEV in all of Europe, for example, and was the fourth-best-selling plug-in vehicle anywhere in February 2016. And Mitsubishi just couldn't make enough of them. Swearingen said the main bottleneck for this was the battery pack supplier Lithium Energy Japan, which didn't have the capacity to make more than it did. So, instead of leaving three markets without enough supply, Mitsubishi decided to leave one in the lurch and focus on the other two. Plus, since the Outlander PHEV will be based on the 2017 gas-powered Outlander, it will come with numerous safety enhancements as well as the 100+ improvements that the 2016 Outlander got compared to the 2015. In other words, all the pieces are all coming together. The Outlander PHEV is "the best of both worlds." - Francine Harsini At least, that's what Francine Harsini, MMNA's senior director of marketing, said. The final important part are the customers, and Harsini said that Mitsubishi will be a big national marketing push. The general theme?

Geely and Renault joint venture will develop internal combustion and hybrid tech

China's Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive transition to purely electric vehicles. "We are pleased to be embarking on this journey to become a global leader in hybrid technologies, providing low-emission solutions for automakers around the world," said Eric Li, Geely Holding Group chairman. The new company will employ 19,000 people at 17 engine plants and five research and development hubs, Renault said. At launch, it is expected to supply to multiple industrial customers including Volvo, Proton, Nissan, Mitsubishi Motors, and PUNCH Torino. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Reuters reported in March that the new venture will see 15 billion euros ($16.53 billion) in annual revenue. Saudi Aramco, which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. The Saudi oil producer has been involved in advanced discussions to take a stake of up to 20% in the JV, sources said earlier this year. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years. But a deal here would make Aramco the first major oil producer to invest in the car business. The joint venture is expected to be launched in the second half of 2023. Earnings/Financials Green Mitsubishi Nissan Volvo Renault