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France tries to dodge blame for blowing up FCA-Renault merger deal

PARIS — France sought to fend off a hail of criticism on Thursday after it was blamed for scuppering a $35 billion-plus merger between carmakers Fiat-Chrysler and Renault only 10 days after it was officially announced. Shares in Italian-American FCA and France's Renault fell sharply in early trading after FCA pulled out of talks, saying "the political conditions in France do not currently exist for such a combination to proceed successfully." French finance minister Bruno Le Maire said the government, which has a 15% stake in Renault, had engaged constructively, but had not been prepared to back a deal without the endorsement of Renault's current alliance partner Nissan. Nissan had said it would abstain at a Renault board meeting to vote on the merger proposal. However, a source close to FCA played down the significance of Nissan's stance in the discussions, believing French President Emmanuel Macron was looking for a way out of the deal after coming under pressure at home. Context The FCA-Renault talks were conducted against the backdrop of a French public outcry over 1,044 layoffs at a General Electric factory. The U.S. company had promised to safeguard jobs there when it acquired France's Alstom in 2015. The collapse of the deal, which would have created the world's third-biggest carmaker behind Japan's Toyota and Germany's Volkswagen, revives questions about how both FCA and Renault will meet the challenges of costly investments in electric and self-driving cars on their own. The merger had aimed to achieve 5 billion euros ($5.6 billion) in annual synergies, with FCA gaining access to Renault's and Nissan's superior electric drive technology and the French firm getting a share of FCA's lucrative Jeep and Ram brands. FCA has long been looking for a merger partner, and some analysts say its search for a deal is becoming more urgent as it is ill-prepared for tougher new regulations on emissions. It previously held unsuccessful talks with Peugeot maker PSA Group, in which the French state also owns a stake. French budget minister Gerald Darmanin said the door should not be closed on the possibility of a deal with Renault, adding Paris would be happy to re-examine any new proposal from FCA. "Talks could resume at some time in the future," he told FranceInfo radio.

Junkyard Gem: 2003 Mitsubishi Diamante LS

While Chrysler started selling Dodge- and Plymouth-badged Mitsubishis in the United States starting with the 1971 model year, Americans couldn't buy new cars with the Mitsubishi name until 1983. Thirty-five years later, Mitsubishi is down to just four models on these shores, all of which cater to the lower end of the market. However, from 1992 through 2004, Mitsubishi tackled the luxury market with its Diamante big sedan. Here's a very rare second-to-last-model-year Diamante, spotted in a Denver-area wrecking yard. I have documented plenty of Mitsubishis during my junkyard explorations, but these late Diamantes have been tough to find (though I have spotted a Diamante wagon). Sales of this car weren't great given that Mitsubishi's name didn't exactly resonate with luxury shoppers. Not when there was a Lexus ES around that did the same thing with a proper premium badge and brand. Second-generation Diamantes sold outside of Japan were built in Australia. Mitsubishi got its money's worth with the 6G7 series of V6 engines, starting with the 1986 Galant and continuing in trucks to the present day. Endless Chryslers of the 1980s, 1990s and 2000s also received 6G72 power. This car has the DOHC 3.5-liter 6G74 version, rated at 205 horsepower. The interior is pretty nice, in its turn-of-the-21st-century manner, and the fact that this car has an ignition key means that it's probably an insurance total or a dealership trade-in. The nose shows evidence of a fender-bender, and that's enough to doom a forgotten luxury car like this. Next stop: The Crusher. Related Video: Featured Gallery Junked 2003 Mitsubishi Diamante LS View 20 Photos Auto News Mitsubishi Automotive History Sedan

Mitsubishi eX Concept portends an electric future

Mitsubishi's future is electric, and the Japanese brand's eX Concept presents its vision for a crossover EV for the years to come at the Tokyo Motor Show. At the same time, the company is using this opportunity to show off some next-gen tech that could arrive in production models someday. To get around, the all-wheel-drive eX Concept packs front and rear electric motors that each produce 94 horsepower, and they're powered by a 45-kilowatt-hour, lithium-ion battery under the passenger compartment. For added traction, the torque split is variable between the back wheels, and braking can adjust things at the nose. Plus, sensors and cameras can read the road ahead and tweak the system accordingly. The eX portends what's next for the company's design language, but traces from the latest Outlander are still visible. Up front, there's a revised version of the brand's X-shaped grille that Mitsubishi calls the Dynamic Shield, but here the turn signals and LED running lights are placed at the top. The concept's bigger innovation to the brand's styling language is the floating roof that makes the side glass appear to wrap around the body. Mitsubishi highlights some future tech inside by using an augmented reality windshield. The idea is to display important info right on the glass to keep a driver's eye on the road, and it also means just a few digital displays are necessary for the physical instruments. For safety, a front-mounted camera and radar also help spot pedestrians and other potential hazards. Mitsubishi goes into elaborate detail about all of the eX's features in the announcement below. MITSUBISHI eX Concept – World Premiere ??????????????????????????????????????????????????????????????????????????????????Evolution in EV Technology + Heart-thumping SUV Allure Next-generation Compact SUV ?The MITSUBISHI eX Concept is a vision for a compact SUV powered by a next-generation EV system. In terms of design, overall it evokes the image of a sports crossover zipping nimbly around town as it merges the elegance and stylishness of a "shooting brake" (a term for a coupe with flowing styling fused with a hatchback car, the term originates from British hunting-use horse carriages) with compact SUV lines. The front end expresses a new interpretation of MMC's Dynamic Shield front design concept. In both its exterior and interior, the MITSUBISHI eX Concept indicates the direction MMC Design is taking.