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Mitsubishi announces new and updated models are around the corner

Mitsubishi has remained relatively quiet in 2020. It was hit hard by the ongoing coronavirus pandemic, like all of its peers and rivals, and it's caught in the middle of the cold war between opposing sister companies Renault and Nissan. It announced plans to emerge from its silence by introducing an array of new or updated models in America. The Japanese company explained its goal is to pack more value and technology into its cars. It will launch its American product offensive in late 2020 by introducing an updated Outlander PHEV. Although full details aren't available, Mitsubishi hinted the crossover will receive a new hybrid powertrain built around a bigger, more powerful gasoline-burning engine that works jointly with better electrified technology. It will be capable of driving on electricity alone for longer distances, and at higher speeds. Other revisions are planned, too. Next up is the Mirage, the firm's entry-level model and one of the smallest cars in a market that has decided bigger is better. Mitsubishi confirmed the American-spec model (pictured) will receive the same visual updates as the variant sold overseas, so it will receive a sharper-looking front end that falls in line with the rest of the range. Shortly after, Mitsubishi will continue its push by giving the Eclipse Cross comprehensive visual updates. The crossover's front end will borrow styling cues from the company's next design language, and earlier spy shots suggest stylists have smoothed out the Pontiac Aztek-like rear end. Inside, the Eclipse Cross will receive a new infotainment system, though we'll need to wait to learn about the features it will incorporate. Mitsubishi Outlander prototype View 16 Photos Finally, the next-generation Outlander (shown above in spy shots) will break cover with a new-look design that Mitsubishi characterizes as "bold, aggressive, and distinctive." Although we haven't seen the crossover without camouflage yet, peeking through the wrap suggests the model draws inspiration from the Engelberg Tourer concept introduced at the 2019 edition of the Geneva auto show. Unverified rumors claim it will switch to a Nissan-sourced architecture in the name of economies of scale, and some variants might be available with an engine plucked out of the Nissan parts bin. What's certain, at least according to Mitsubishi, is that the next Outlander will be the quietest and best-equipped car it has ever sold in the United States.

Ghosn's first jail interview: I was the victim of 'plot and treason'

TOKYO — Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to "plot and treason" to disrupt them and were behind the financial misconduct allegations against him. Speaking to the Nikkei newspaper in his first media interview since his arrest on Nov. 19, Ghosn said he had discussed plans to integrate the companies with Nissan CEO Hiroto Saikawa in September. But Nissan executives employed "plot and treason" to uproot those plans, Ghosn said. Ghosn, who spearheaded Nissan's turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese corporation. He remains in detention following his arrest and indictment on charges related to breach of trust and understating his salary. His arrest has clouded the outlook for closer ties between Nissan and Renault, along with Mitsubishi Motors Corp, the third member of the automaking alliance Since his arrest, Saikawa has said it was not the time to discuss revising the partners' complex capital ties. Nissan and Mitsubishi Motors have dismissed Ghosn as chairman, while he has resigned from the helm at Renault. Ghosn denied accusations of improper payments to a company run by a Saudi businessman, saying the payment had been approved by a Nissan executive. Ghosn also called accusations by both Nissan and Mitsubishi that he received nearly 8 million euros in improper payment through a Dutch-based joint venture of the two automakers "a distortion of reality," and argued his luxury residences in Rio de Janeiro and Beirut were approved by Nissan's legal department. Nissan has said it was not aware that it had paid for many of Ghosn's properties. On Wednesday, a spokesman said that the company was unable to comment on Ghosn's legal defense. Ghosn, in the 20-minute interview, denied that his tenure at Nissan had been a "dictatorship." "People translated strong leadership to dictator, to distort reality" for the "purpose of getting rid of me," he said. Ghosn added that his health was fine, and that he wouldn't flee if freed on bail. Meanwhile, NHK reported that Saikawa plans to hold his first face-to-face discussion with new Renault Chairman Jean-Dominique Senard on the sidelines of an alliance meeting in the Netherlands on Thursday.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs. "We must admit failures and take corrective actions," he said, adding that starting with top-level managers, the company had to break its inward-looking culture which in the past has stymied efforts to deepen cooperation with France's Renault. Uchida said improving the company's cash flow was its biggest challenge. He reiterated that Nissan's cash liquidity was good even though it had negative free cash flow of 641 billion yen in the year ended in March. Nissan declined to give any forecasts for its current financial year which started in April due to the uncertainty created by the coronavirus pandemic. It also declined to give details on how many jobs it was cutting. In what is Nissan's second recovery plan in less than a year, Uchida pledged a return to profitability with a core operating profit margin above 5% and a sustainable global market share of 6%. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4%. The automaker said on Thursday that it sold 4.9 million vehicles last year, up from an earlier estimate of 4.8 million. That was still the second decline in a row and a fall of 11% from the previous period but meant Nissan clung on to its position as Japan's second biggest carmaker, just ahead of Honda and a long way behind Toyota. Pandemic pressure Even before the spread of the novel coronavirus, Nissan's slumping profits had forced it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on the urgency to downsize.