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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.

Mitsubishi is auctioning its entire UK heritage fleet with no reserve

Mitsubishi will exit the United Kingdom in the fall of 2021 after struggling for several years, and its losses can be your gain. Before it leaves, it will auction its fleet of 14 beautifully-preserved classic models with no reserve. There are 14 classics that need a new home, and the collection includes something for everyone. Enthusiasts can bid on a 1974 Lancer 1400 that stands out as the first Mitsubishi ever registered in the United Kingdom. It was displayed at the 1974 edition of the British Motor Show, and it's bid to 15,000 pounds (around $20,800) as of writing. Another 47-year-old classic is a Colt Galant 2.0 imported to the United Kingdom in the spring of 1974 and used as a demonstrator to recruit dealers. It's currently sitting at 5,000 pounds, which represents about $7,000. For something quicker, there are several versions of the Lancer Evolution to choose from. One is a 2001 model signed by pilot Tommi Makinen. Another is a 2015 FQ-440 MR, a limited-edition model built in 40 examples to send off the nameplate. There is also a 2008 Evo, and a 2007 model built to Group N rally specifications. It competed in the British Rally Championship in 2007 and 2008. Alternatively, a Galant-based rally car is up for grabs, too. Coupes are relatively well represented, with a 1988 Starion whose engine was recently overhauled, and a 1992 3000GT. Performance is only one part of the Mitsubishi story, however; off-roading is another, and there are several SUVs to choose from. Mitsubishi is selling a 1987 short-wheelbase Shogun, which was sold as the Montero in the United States, a 2000 Shogun, and an L200 Desert Warrior pickup. Our favorite of the lot is a 1983 Jeep J27, which, as its name implies, was produced under license from Willys. It was given a full restoration in the 2000s. Mitsubishi is also selling a 7/10-scale replica of the Model A. Finally, it's letting go of numerous personalized plates, and it's parting with a 2015 Outlander finished in Glacier Blue and showing approximately 1,800 miles. Bidding started on April 1, 2021, and each auction is scheduled to end on April 30, 2021. If you want to bag one of Mitsubishi's classics, visit the Auto Auction website to place a bid and keep your fingers crossed. The collection is located in England, but many of the cars are old enough to be imported to America and registered in most states.

The last Mitsubishi Evolution in the US sold for $76,400

UPDATE: The final Mitsubishi Evolution, Final Edition number 1,600, sold at auction for $76,400. The proceeds will go straight to Feeding America Riverside | San Bernardino and Second Harvest Food Bank of Orange County in celebration of Hunger Action Month. While we're sad to see the Lancer Evolution disappear, we're at least glad to see that the last one on our shores will do some good for those in need. Mitsubishi announced that the very last Lancer Evo X Final Edition for the US, number 1,600, will be auctioned on eBay for charity. The auction starts tomorrow at 9 am Pacific time and runs until Thursday, September 15 at 9 am. Considering the car's collectability and auction availability, the last Evo will probably go for well above MSRP, but that's a good thing. All of the proceeds will be donated to Second Harvest Food Bank in Orange County and Feeding America in Riverside and San Bernardino, so the higher that bidding reaches for this particular car, the better. Aside from the charitable and collectible reasons, the Final Edition Evo is also the best version of the classic sport compact Mitsubishi has built. It has an extra 12 horsepower over standard and comes with the five-speed manual transmission. Plus it gets upgraded Bilstein shocks, Eibach springs and Brembo brakes. So if you want to buy the last, best version of a great car and help people while doing it, log into your eBay account this week and put in your bid. Related Video: