1999 Mitsubishi Eclipse Gst ( Turbo) on 2040-cars

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Nissan, Renault in talks to merge as one company

Nissan and Renault have been tied together as an alliance for nearly 20 years, but now the Japanese and French automakers are discussing whether to merge. Bloomberg, citing unidentified sources familiar with the confidential talks, reports that the idea is to form a larger, single publicly traded company to better compete against giants like Toyota and Volkswagen. It would also mark the end of the alliance that first began in 1999 and also includes Mitsubishi, in which Nissan acquired a controlling interest in 2016. A full merger would help the companies pool resources to develop electric vehicles, autonomous vehicles and car-sharing services. It would involve Nissan giving Renault shareholders stock in the new company, with Nissan shareholders also gaining shares in the new company, Bloomberg reports. The new company would be run by Carlos Ghosn, the current chairman of both companies. But any such merger, as you might expect, would be complicated, in part by geopolitics. The French government owns a 15-percent stake in Renault, and both the French and Japanese governments might be reluctant to let go of their respective home-grown brands. Currently, Renault owns a 43-percent stake in Nissan, while Nissan owns 15 percent of its French partner. Reuters reported recently that Ghosn proposed buying most of the French government's stake in Renault as part of plans for a closer tie-up. The Renault-Nissan-Mitsubishi alliance already has been working to establish a $200 million mobility tech fund to invest in startups, a reflection of how seismic changes in the auto industry have left many legacy companies scrambling to stay current. Nissan in 2016 paid a reported $2.3 billion to acquire 34 percent of Mitsubishi in order to share platforms, technology, manufacturing and other resources. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Patrick T. Fallon/Bloomberg Earnings/Financials Government/Legal Green Mitsubishi Nissan Renault car sharing merger

Tokyo court rejects Carlos Ghosn's bail request

TOKYO — A Tokyo court rejected former Nissan chairman Carlos Ghosn's latest request for bail on Tuesday, more than two months after his arrest. A statement from the Tokyo District Court announcing its decision gave no explanation for prolonging a detention of the 64-year-old executive, which has drawn international scrutiny of Japan's justice system. Ghosn had promised to wear an electronic monitoring ankle bracelet, give up his passport and pay for security guards approved by prosecutors in his latest attempt to gain release from a Tokyo detention center. His family said they will appeal. Ghosn has been in custody since Nov. 19. He had a bail hearing Monday. A Tokyo court rejected an earlier request for bail last week. Ghosn, who led Nissan Motor Co. for two decades, has been charged with falsifying financial reports in underreporting his compensation from Nissan over eight years, and with breach of trust, centering on allegations Ghosn had Nissan temporarily shoulder his personal investment losses and pay a Saudi businessman. Ghosn has said he is innocent, explaining that the alleged compensation was never decided, Nissan didn't suffer losses and the payment was for legitimate services. His wife, Carole Ghosn, appealed for his release through Human Rights Watch earlier this month, saying Ghosn's treatment has been harsh and unfair. Her views echo widespread criticism of Japan's criminal justice system both inside and outside Japan. Suspects who insist they are innocent get held longer. Suspects are held in a cell and routinely grilled daily by investigators without a lawyer present, although lawyers are allowed to visit. Ghosn's lawyer Motonari Ohtsuru has acknowledged Ghosn's release may not come until the trial, which may be six months away. A date for the trial has not been set. Nissan officials say an internal investigation has found that Ghosn had schemes to hide his income and that he used company money and assets for personal gain. A special committee Nissan set up after Ghosn's arrest to strengthen governance held its first meeting Sunday. Seiichiro Nishioka, a former judge and co-chair, told reporters after the meeting that Ghosn had shown questionable ethics, and too much power within the company had been focused in one person. The committee's findings are due by late March. Ghosn's pay was long a sticking point in Japan, where executives generally get paid far less than their American and other Western counterparts.

2022 Mitsubishi Eclipse Cross refresh gives the crossover an Aztek-ectomy

As expected from spy shots, the 2022 Mitsubishi Eclipse Cross has received a styling refresh, and it changes the somewhat controversial rear end. It also brings some tweaks to the infotainment, and for markets outside the U.S. a plug-in hybrid. The big exterior changes are at the back. The Aztek-style split rear window is gone for a conventional single one. The taillights no longer bridge across the middle of the hatch. They do still extend up the rear pillars. The shape of the hatch looks a little different, too, and it helps reduce the stubby look of the Eclipse Cross's tail. From the front and sides, the new Eclipse Cross doesn't seem particularly different. But looking closer, you may notice that the upper lamps are slimmed down and given a steeper angle. They also appear to simply be daytime running lights, while the now larger lower lamps take over actual illumination duty. The main grille is also thinner. On the inside, the main change is to the infotainment system. The screen has grown to 8 inches over the old 7-inch system, and now features a new graphic interface and physical volume and tuning knobs. Not only that, it ditches the touch pad in the center console, opting instead for touchscreen interactions exclusively. To aid this, the screen also sits closer to the front occupants. Mechanically, U.S.-spec Eclipse Cross models are unchanged. They continue to get the turbocharged 1.5-liter four-cylinder making 152 horsepower and 184 pound-feet of torque. It's paired with a CVT and front- or all-wheel-drive. For other markets, Mitsubishi will introduce a plug-in hybrid variant. Details for that will come later, but won't be especially relevant for the U.S., as the company said it has no plans to bring it here. Considering the availability of the Outlander PHEV in America, this seems like an odd decision, but perhaps Outlander PHEV sales haven't been strong enough to merit another PHEV model. The redesigned Eclipse Cross will go on sale in the first quarter of 2021. Pricing has not been announced, but expect it to stay close to the current car's base price of $24,190. Related Video: