08 Lancer Gts-85k-5speed Manual-navigation-dvd Player-trunk Spoiler-alloy Wheels on 2040-cars

Auto blog

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.

Camaro Z/28 and Mitsubishi Starion meet in this nostalgic vision of '87 Japan

The '80s is just far enough away now that it no longer seems like an era defined by Reagonomics and neon clothing. Filmmaker Matt Clark has embraced the look of the music videos of the decade in his new short film titled Orange Orchid, set in 1987 in Chiba and Yokohama, Japan. The video features some great sports coupes of the time and is set to the song I Know There's Something Going On from Abba-alum Frida (along with drumming and backup vocals from Phil Collins).
Clark really embraces the pop-culture look of the era's videos with big hair, a healthy dash of neon, inexplicable smoky rooms and big, over-wrought movements. However, the real stars for us are the pair of '80s sports coupes that also kind of personify the main characters. Nijo in her denim jacket has a modded Camaro Z/28 with huge, dished wheels sticking way out past the fenders. Naturally, the Chevy also features some great butterscotch paint and a car phone inside. Alex, the guy pursuing her, forgoes any obvious upgrades in favor a clean, all-white Mitsubishi Starion to go along with his tailored suit and giant cell phone.
We wish this video featured the cars a bit more prominently, but that drumbeat from Collins on this forgotten 80s gem is pretty fantastic, too. Give it a listen in the video.

Mitsubishi shows five concepts headed to the 2020 Tokyo Auto Salon

Mitsubishi will storm the 2020 Tokyo Auto Salon with seven concepts, five based on production models getting early previews. This year's haul more than doubles the trio of concepts Mitsubishi took to this year's Tokyo Auto Salon, and it's obvious the company put more effort into all of them as well. The wildest among the five could be the Delica D:5 imagined by Japanese director, producer and writer Teruo Ito. With the idea to rework the Delica into the idea of embodying charm "like a dog or a member of a family," Ito threw out the van's rectangular headlights, working with Mitsubishi designers to replace them with large round units inset like eyes. The anthropomorphic face is so important that the concept is apparently called the "D:5 eye," according to Google Translate. The van wears a "light army green" hue from its roof to its MLJ Daytona wheels, the interior done up in a olive tartan pattern.   Right behind it in the "Look at me!" stakes is the eK Cross Wild Beast Concept, a contrast to the "Cute Beast" that is the standard eK kei car. Drenched in yellow, with gray X graphics, a contrasting black roof and tailgate, black cladding, mud flaps, chunky rocker panels, roof rack and basket, and all-terrain tires, this one is meant to evoke a "playful outdoor image." In case the striking livery doesn't convey the message, the command to "Play the Nature" appears on the hood, roof rack and fuel filler cap. Inside, all-weather floor mats and a load bay mat stand ready to protect the interior from mud. Or Play-Doh. The Mitsubishi Outlander PHEV NERV is the widest combination of real and imaginary usefulness. Re: the latter, NERV is the fictional Japanese paramilitary organization that battles creatures called Angels in the "Neon Genesis Evangelion" anime. Warfare between the Evangelion units and the Angels tends to destroy a lot of animated real estate, hence the usefulness of a disaster relief vehicle like the Outlander PHEV, coordinated by the Gehirun Corporation that's also in the anime. For real-world service, designers installed a KYMETA u7 planar satellite antenna that can pick up signals from Sky Perfect JSAT Corporation — a Japanese-based satellite television and Internet company, and the Asia-focused Michibiki emergency broadcast and GPS service.