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Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.

Is a Nissan Leaf with a 250-mile range less than three years off?

Nissan CEO Carlos Ghosn has never shied away from bold proclamations. Most recently, he implied that an electric vehicle with a single-charge range comparable to that of a gas-powered vehicle on a full tank may be fewer than three years out. We'd love to see it. Indeed, Ghosn said that such a car may be around in the "near future," Hybrid Cars said, citing a presentation Nissan CEO Carlos Ghosn made to shareholders earlier this week. He also showed a video of a Nissan Leaf in Japan, which appears to start out on a trip with 417 km (259 miles) of range available. The 2015 Leaf's single-charge range is rated at 84 miles in the US. How to get another 120 miles or so? Ghosn's talking about a still-lighter vehicle as well as cheaper batteries and improved battery chemistry. He also alluded to shorter recharging times. Last month, word got out that Nissan was working on a top-of-the-line Leaf that, as soon as this fall, would include a 30-kilowatt-hour battery, up from the standard 24-kWh version. Such a variant, which would be launched ahead of the next-generation Leaf slated for as soon as 2017, could boost the Leaf's single-charge range to as far as 105 miles. Related Videos: Featured Gallery 2013 Nissan Leaf View 55 Photos News Source: Hybrid Cars Green Nissan Hatchback Electric single-charge range

Nissan transforms NV200 into part-e-Van [w/video]

Following its earlier BBQ van conversion, Nissan is demonstrating once again the flexibility of its NV200 van by rolling out this mobile party on wheels. Based on the battery-powered e-NV200, the "part e-Van" packs an array of upgrades to give it everything you'd need to turn any parking lot into a club. It's got a DJ booth on the roof, a 1,400-watt sound system, wireless headphones for silent-disco capability, a solar-powered disco ball that feeds juice back into the system, an alcohol-free bar dispenser, an LED dance floor, and a 20-foot-tall light-up canopy. There's even a drone that can deploy to capture the party scene, and a monitor hooked up online to share it all via social media. The party wagon is set to debut outside the Olympiastadion in Berlin for the UEFA Champions League final (that's a soccer game for those of us unfamiliar), and will then hit the road on tour – with its next stop scheduled for the 24 Hours of Le Mans. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Party On! Nissan turns 100% Electric e-NV200 into the ultimate part e-VAN - Vehicle unveiled ahead of the UEFA Champions League Final - Zero Emission vehicle will be displayed outside The Olympiastadion ahead of kick-off - One-off vehicle's key features include a disco ball solar array which feeds power to some of the van's elements - Watch the PART e-VAN in full swing here: https://youtu.be/gdTew0hZ_Rs Nissan has transformed its all-electric e-NV200 into the ultimate party on wheels. The vehicle - called the PART e-VAN and powered by the 100% electric e-NV200 - will charge into Berlin for its inaugural reveal tomorrow night ahead of Saturday's UEFA Champions League Final, before exciting fans outside The Olympiastadion prior to kick-off. Some of the unique van's standout attributes include a dazzling disco ball solar panel array on the roof which absorbs daylight to power some of this one-off vehicle's features, an augmented reality system where users will be able to jump into their own party scene before sharing it with friends on social media and a custom-made sound system capable of throwing the best silent disco party.