Tons Of Upgrades: 440whp + Optional 175hp Nos on 2040-cars

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Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.

Limited-edition Mitsubishi 311RS Evo X coming to Minneapolis Auto Show [w/video]

It's not terribly often that we have news to report coming out ahead of the Minneapolis Auto Show. We say that not to disparage the Twin Cities, which are lovely, but new product reveals are few and far between for the show. This year, however, it seems that event will play host to the debut of a rather special limited edition Mitsubishi Lancer Evolution X. Though not coming directly from the Mitsu factory, we think the 311RS shows loads of potential for Evo fanatics.
The 311RS is the brainchild of circuit racer Ryan Gates, who has apparently spent the last three years developing what he believes is an Evo perfect for both racing and road driving. Starting life as a bog-standard Evo X, the Gates team has swapped out the factory intake, intercooler and exhaust system for more potent AMS pieces; resulting in output figures of 353 horsepower and nearly 359 pound-feet of torque. A new suspension from JRZ, brakes from Girodisc and 18-inch custom Rays wheels shod with high-performance Nitto tires represent significant updates to the underpinnings, as well.
Of course, the 311RS is also rocking a full body kit, too, with a more aggressive front air dam and a subtle lip added on to the stock rear wing. The blue and white racing livery, with matching blue wheels, looks racy without being too childish, we think.

Renault-Nissan goes for closer cooperation, outsells VW and Toyota

PARIS — Renault-Nissan plans to double cost savings to nearly $12 billion by 2022, partly through closer cooperation with Mitsubishi, but left key questions about the automakers' alliance unresolved. Chairman Carlos Ghosn has pledged to step up the pace of integration after Nissan took a controlling stake in Mitsubishi last year. The 18-year-old Renault-Nissan pairing has only recently begun rolling out cars on common architectures. Combined sales volumes are expected to rise to 14 million vehicles by 2022 from 10.5 million expected this year, with revenue advancing by a third to $240 billion, the alliance said at a news conference in Paris on Friday. However, any investors impatient for a new capital or management structure to speed integration and prepare Ghosn's succession were likely to be disappointed. There was "no answer from Ghosn on the possibility of a merger by 2022," Jeffries analyst Philippe Houchois noted.12 NEW ALL-ELECTRICS Ghosn has been seeking a new second-in-command, sources told Reuters in June. But such plans are linked to thornier questions about the balance of power between the two main carmakers and the French government's outsize clout as Renault's biggest shareholder, supported by double voting rights. Twelve new pure-electric models will be on the road by 2022 as Renault-Nissan seeks to defend the head-start it gained with the current generation of battery cars, spearheaded by the Nissan Leaf and Renault Zoe, as more competitors join the fray. With 5.27 million cars and vans delivered in the first half of the year, Renault-Nissan now claims the mantle of the world's biggest carmaker, ahead of Volkswagen and Toyota, even though Renault has never consolidated the sales of its 43.4 percent-owned Japanese affiliate into its own. Under existing plans, the alliance is seeking to increase synergies — from cutting costs and boosting revenue — to 5.5 billion euros next year from 5 billion recorded in 2016. SHARED PLATFORMS A fourth common vehicle platform will be shared across the alliance by 2022, the companies said on Friday, underpinning a future generation of electric cars which, together with hybrids, are expected to account for 30 percent of group sales. Renault-Nissan will aim to deliver more electric vehicles and also make greater use of shared technology and manufacturing processes.