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Nissan is exploring the sale of its 34% stake in Mitsubishi

TOKYO — Nissan is looking to sell some or all of its 34% stake in Mitsubishi Motors, Bloomberg News reported on Monday, citing unidentified sources, a move that would reshape a three-way alliance that includes France's Renault. Nissan shares rose 5% on the news. Mitsubishi Motors was up 3%. "There are no plans to change the capital structure with Mitsubishi," a Nissan company spokeswoman told Reuters in an emailed statement. A Mitsubishi Motors spokesman said the same, adding the company would continue to collaborate within the alliance. Renault did not immediately respond to an email seeking comment. Nissan, struggling to recover from the pandemic-induced downturn, could sell its stake to a Mitsubishi group company such as Mitsubishi Corp, which already owns a fifth of Mitsubishi Motors, Bloomberg said. Such a deal would fundamentally alter a three-way partnership built by Carlos Ghosn, former chairman of the alliance, which plunged into confusion when he was arrested in 2018 on charges of financial misconduct. Ghosn had wanted a full merger of Renault and Nissan, which was shelved, according to Reuters sources, as the companies decided to fix the troubled alliance. The pandemic has, however, compounded problems and made a recovery hard. Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China. Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year. Both companies are cutting production levels and costs in a bid to return to profitability. Related Video:

Ralliart returns to America for 2023

Mitsubishi announced Wednesday that its storied Ralliart nameplate will return to showrooms for the 2023 model year. The company let slip that its performance sub-brand would make a comeback more than a year ago and even revived it for a show car in Tokyo, but this is the first example of a for-real product shipping with Ralliart branding since it was kicked to the curb in 2010 — years before the compact Lancer it most famously graced was formally discontinued.  For now at least, it appears Ralliart will be a largely aesthetic makeover, with alterations limited to "unique body effects, graphics and other rally-inspired touches." We wouldn't be surprised to see larger wheels, sportier tires and perhaps even some suspension adjustments enter the mix down the line, but for now, Mitsubishi seems content to set modest expectations. Look for variants of the Outlander, Outlander PHEV, Eclipse Cross, Outlander Sport and Mirage, all of which will be built in "limited" numbers.  Elsewhere in 2023 model year news, the Mirage is losing its manual transmission option in favor of a standard CVT, and its base price will increase by $1,600 accordingly. The Outlander Sport and Eclipse Cross will now come standard with AWD, and the latter's base price will increase to $27,140 (including $1,345 for destination). Mitsubishi says more pricing and trim information for the lineup will be provided at a later date, along with more information about the new Outlander plug-in hybrid; the car itself will arrive in showrooms in Q4.  Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mitsubishi Concept XR-PHEV II points the way forward with its angular look [w/video]

The Mitsubishi Concept XR-PHEV II on display at the Geneva Motor Show isn't really a completely new vehicle but more of thorough reworking of the earlier XR-PHEV from the 2013 Tokyo Motor Show. For the latest interpretation, the Japanese brand is getting the design ready for an eventual debut for the road. While the two concepts look practically identical at first glance, the XR-PHEV II is far more possible for production than its predecessor. The grille and hood now feature openings to let the vehicle cool its plug-in hybrid system, and the rear design offers enough glass to actually let the driver see out of the back. The interior for the latest version also looks mostly functional this time and is clad in eye-catching orange upholstery. The XR-PHEV II's powertrain is a bit more mysterious, though. It's a front-wheel drive PHEV that's powered by a 12-kWh battery and offers a total output of 160 horsepower. However, Mitsubishi isn't taking about the internal combustion engine's displacement or the model's transmission. Still, the company is clear that this look is a glimpse at its future crossovers, and that would be a welcome change. XR-PHEV II's more angular design would certainly liven up Mitsubishi's somewhat staid lineup.