One Owner, 2001 Mitsubishi Eclipse Spyder Gt Convertible, Clean! on 2040-cars

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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn

TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.

Geely and Renault joint venture will develop internal combustion and hybrid tech

China's Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive transition to purely electric vehicles. "We are pleased to be embarking on this journey to become a global leader in hybrid technologies, providing low-emission solutions for automakers around the world," said Eric Li, Geely Holding Group chairman. The new company will employ 19,000 people at 17 engine plants and five research and development hubs, Renault said. At launch, it is expected to supply to multiple industrial customers including Volvo, Proton, Nissan, Mitsubishi Motors, and PUNCH Torino. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Reuters reported in March that the new venture will see 15 billion euros ($16.53 billion) in annual revenue. Saudi Aramco, which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. The Saudi oil producer has been involved in advanced discussions to take a stake of up to 20% in the JV, sources said earlier this year. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years. But a deal here would make Aramco the first major oil producer to invest in the car business. The joint venture is expected to be launched in the second half of 2023. Earnings/Financials Green Mitsubishi Nissan Volvo Renault

Junkyard Gem: 1987 Mitsubishi Mirage L Hatchback

  Chrysler Corporation began selling Mitsubishi Colt Galants with Dodge Colt badging in North America all the way back in the 1971 model year, with many more rebadged Mitsubishis to follow in later decades. Soon after Mitsubishi developed the new front-wheel-drive Mirage for the home market in 1978, this car received Dodge Colt and Plymouth Champ badging on these shores. Sales were brisk, despite internal competition from the Simca-derived Dodge Omni/Plymouth Horizon. Starting in the 1983 model year, Mitsubishi began selling vehicles under its own badging here; at first, Americans could buy the Starion, Tredia, Cordia, and Mighty Max. For the 1985 through 1987 model years, the second-generation Mirage rolled out of North American Mitsubishi showrooms, doing sales battle with its near-identical Colt twins at the Dodge and Plymouth dealers. Here's one of those cars, found in battered condition in a Denver self-service car graveyard. This car didn't get much beyond 150,000 miles during its career, but those miles must have been hard ones. More likely, it spent long periods (maybe decades) sitting outdoors after being parked for the last time. Presumably, the driver's side was facing south and bore the brunt of many years of mile-high solar radiation. While the 1985-1987 Dodge and Plymouth Colts sold in huge numbers here, this generation of Mirage didn't catch on nearly as well with car shoppers. I hadn't seen an early Mirage in a junkyard for many years when I found this one. The "Big Nose Guy" icons on the HVAC controls appeared in all Mitsubishi-built cars sold here during the 1980s. Mitsubishi was (and is) a consumer-electronics behemoth, and so the high-end factory AM/FM/cassette rig in this car bears the same nameplates as the car itself. I couldn't get the hood open, but this car was almost certainly powered by an ordinary 4G Orion engine. The transmission is the five-speed manual, which was easier to use than the dual-range Twin-Stick four-speed but not nearly as cool. Starting in the 1989 model year, the Mitsubishi Mirage had to compete with three different badge-engineered siblings for sales: the Dodge Colt, the Plymouth Colt, and the Eagle Summit. On top of that, the first-generation Hyundai Excel and its Mitsubishi Precis twin were close cousins to the Mirage. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The 1980s really were the Golden Age of JDM Car Advertising.