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Mitsubishi signals the return of its Ralliart performance line

Mitsubishi is reportedly reviving its long-dormant Ralliart performance line, giving longtime fans of the rally-inspired nameplate hope that some fun models may one day return to the Mitsubishi lineup as part of the company's efforts "toward the realization of Mitsubishi Motors-ness," whatever that means. Per Forbes, Mitsubishi dropped this nugget during an investor call in Tokyo on Tuesday. The return of Ralliart after more than a decade in mothballs would be a pleasant surprise for Mitsubishi fans, but don't expect this to indicate a return of the old-school Lancer Evolution lineup — or anything else with four doors and a traditional trunk, for that matter. Don't believe us? Check out Mitsu's own materials: After all, rallying is largely an off-road endeavor, and with modern consumers thirsting for high-riding crossovers and SUVs, it should come as no surprise that Mitsubishi's Ralliart revival will come from that direction. In better news, it appears that Ralliart's return will include new branded parts (and accessories, we imagine), which could mean that even non-Ralliart models will get some post-delivery love.  We also wouldn't be shocked (sorry) if the new vision for Ralliart is grounded (OK, we're not really sorry) in an electrification strategy. Ralliart? Perhaps more like Rall-e-art. As a matter of fact, from looking at Mitsubishi's presentation, the Ralliart news followed that of updates regarding the company's plug-in hybrid strategy. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mitsubishi and NTT to buy 30% stake in HERE digital mapping company

Digital mapping company HERE Technologies sold a 30% stake to Mitsubishi and Nippon Telegraph and Telephone Corp (NTT), diluting German carmakers’ stake to 54% amid uncertainty about the profit potential from autonomous cars. Mitsubishi and NTT will co-invest in the Amsterdam-headquartered company through their newly established, jointly owned holding firm COCO Tech Holding B.V. in the Netherlands, HERE said on Friday. “Their investment also means we are further diversifying our shareholder base beyond automotive, which is important given the appeal and necessity of location technology across geographies and industries,” HEREÂ’s Chief Executive Edzard Overbeek said. The Japanese companies said they would collaborate with HERE to develop services such as ways to tackle road congestion and improve supply chain efficiencies. High definition maps can also be used in fleet management, asset tracking, last-mile delivery, long-distance package delivery by drones and indoor mapping applications, Overbeek told Reuters. Financial details of the transaction, which they said would close next year, were not disclosed. German carmakers BMW, Audi and Daimler saw high definition mapping as a strategic asset and bought HERE from Finnish telecoms group Nokia for around 2.5 billion euros ($2.8 billion) in 2015 to avoid becoming dependent on AlphabetÂ’s Google. FridayÂ’s deal dilutes the stake held by each German carmaker from 25% to just under 18%, HERE said. REALITY CHECK Tech companies and automakers raced to develop self-driving vehicles after Google presented a prototype car in 2012, leading German manufacturers to develop robotaxis as a way to enter the ride-hailing business to take on Uber. However, the technology costs and regulatory hurdles have spiraled, and ride-hailing businesses have struggled to reach sustainable profitability, leading to a reassessment of the business potential of robotaxis and ride hailing. “There has been a reality check setting in here,” Daimler Chief Executive Ola Kaellenius said last month, adding that spending on robotaxis would be “rightsized.” The move comes as BMW and Daimler this week announced they will exit the North American car-sharing market, halting operations in Montreal, New York, Seattle, Washington D.C., and Vancouver, as they focus on the European market. Last year, GermanyÂ’s Continental and Bosch, the worldÂ’s largest automotive suppliers, bought a 5% stake in HERE.

Renault to propose joint holding company with Nissan, Nikkei reports

TOKYO — Renault SA will propose to Nissan Motor Co a plan to create a joint holding company that would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal number of directors to the new company in which ordinary shares in both Nissan and Renault would be transferred on a balanced basis, the newspaper said, without citing sources. This would effectively dilute the stake held by the French government in Renault to around 7-8 percent, from its current 15 percent, it added. The new company would be headquartered in a third country, such as Singapore. Renault plans to make the proposal to Nissan soon, the Nikkei said, having modified an earlier merger idea that Nissan rejected on April 12. Nissan declined to comment on the issue. The Financial Times newspaper reported that both Nissan and the Japanese government have refused to engage in merger talks with Renault. The report of the proposal comes as the outlook for the alliance — one of the world's top automaking partnerships — has clouded since the arrest in November of its main architect, Carlos Ghosn, for suspected financial misconduct. It also comes as Nissan's financial performance struggles following years of focusing on volume sales over building its brand, particularly in the United States, its biggest market. Nissan slashes its forecast This week, the Japanese automaker slashed its profit forecast for the year just ended to its lowest in nearly a decade, citing weakness in its U.S. operations. Renault for years has been vying for a closer merger with Nissan, which it rescued from the brink of bankruptcy two decades ago. Ghosn had been working to achieve a deeper integration before his arrest on financial misconduct charges in November last year. While the automakers have been consolidating many of their operations over the past decade, including procurement and production, many executives at Nissan have opposed an all-out merger with Renault. Instead, Nissan has argued for a more equal footing with Renault, which holds a 43 percent stake in its bigger partner. Nissan holds a 15 percent stake in Renault. It was unclear whether Renault would hold the casting vote in major decisions at the new company, as it did in Renault-Nissan B.V., a strategic management company jointly held by both companies that oversaw operations for the partnership.