2015 Mitsubishi Evolution Gsr on 2040-cars

Auto blog

FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger

Mitsubishi bringing Concept XR-PHEV II to Geneva

Head to the Geneva Motor Show this year and you'll see what could very well be the next production Mitsubishi. Though dubbed a "concept," the XR-PHEV II is clearly closer to being ready for production than the first XR-PHEV concept it showcased in Toyko back in 2013. Spindly as they may be, this one actually has side mirrors, the bodywork is a little toned down compared to the previous concept, there are actual openings in the grille, and you can actually see what looks like a functional interior through the windows. Overall the shape of this urban crossover looks promising, reminding us a bit of the Lamborghini Urus concept crossed with a Lancer Evo. But at least as important is what's under the hood. That's where Mitsubishi has placed its latest plug-in hybrid powertrain. The system includes an electric motor good for 160 horsepower, juiced by a 12-kWh battery. Strangely, the Japanese automaker hasn't specified what it's mated to, exactly, except to say that it's a MIVEC engine – those being the letters Mitsubishi uses for its variable valve timing system and utilized on gasoline and diesel engines ranging from 1.0 to 3.8 liters and from three cylinders to six. The previous concept, however, utilized a 1.1-liter turbo three with 134 hp on tap. It looks like we'll have to wait closer to its debut for further details and photos, but for now you can scope out all there is to know so far in the press release below. MITSUBISHI MOTORS AT 2015 GENEVA INTERNATIONAL MOTORSHOW Feb 25, 2015 TOKYO - Mitsubishi Motors Corporation (MMC) will unveil the global debut of the Mitsubishi Concept XR-PHEV II[1] as well as the European premiere of the L200[2] pick-up truck at the 85th Geneva International Motor Show[3]. The Mitsubishi Concept XR-PHEV II is a small SUV powered by a new plug-in hybrid EV (PHEV) system and the all-new L200 is due to go on sale in Europe this summer. The Mitsubishi Concept XR-PHEV II is a small SUV concept expected to be MMC's second PHEV following the Outlander PHEV launched in the UK in April, 2014. The new PHEV system presented in the Mitsubishi Concept XR-PHEV II is a lightweight, compact and high-efficiency front-engine/front-drive system ideal for an urban crossover. The system is estimated to achieve very low CO2 emissions of below 40 g/km, among the lowest of any PHEV, while also delivering gutsy and smooth performance with excellent response with its 163PS electric motor.

Nissan, Renault break up the Ghosn-style almighty chairmanship

YOKOHAMA, Japan — Japan's Nissan Motor and France's Renault said they would retool the world's top car-making alliance to put themselves on more equal footing, breaking up the all-powerful chairmanship previously wielded by ousted boss Carlos Ghosn. The removal of Ghosn, credited for rescuing Nissan from near-bankruptcy in 1999, had caused much uncertainty about the future of the alliance and some speculation the partnership could even unravel. The companies, together with junior ally Mitsubishi Motors, on Tuesday said the chairman of Renault would serve as the head of the alliance but — in a critical sign of the rebalancing — not as chairman of Nissan. "This is a very special day for the alliance," Renault SA's chairman, Jean-Dominique Senard, told reporters after a meeting at Nissan's Yokohama headquarters. He spoke to reporters along with Renault's chief executive, Thierry Bollore; Nissan CEO Hiroto Saikawa; and Osamu Masuko, CEO of the smaller Japanese alliance partner Mitsubishi Motors Corp. Those four executives will meet every month in Paris or Tokyo and oversee various projects, helping to make the companies' operations more efficient, they said. Nissan has said that Ghosn wielded too much power, creating a lack of oversight and corporate governance. It was not clear who would become Nissan's chairman, vacant since Ghosn was arrested in Japan in November. But the automakers gave no indication of any immediate change in their cross-shareholding agreement, one which has given smaller Renault SA more sway over Nissan. The alliance did not announce any changes in mutual stake holdings. The so-called Restated Alliance Master Agreement that has bound them together so far remains intact, they said. "We are fostering a new start of the alliance. There is nothing to do with the shareholdings and the cross-shareholdings that are still there and still in place," Renault Chairman Senard said. "Our future lies in the efficiency of this alliance," he told reporters at Nissan's headquarters in Yokohama. Senard also said he would not seek to be chairman of Nissan, but instead was a "natural candidate" to be vice-chairman. Former Nissan chairman Ghosn was released on a $9 million bail last week after spending more than 100 days in a Tokyo detention center.