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Mitsubishi Motors to relocate North America HQ to Tennessee

NASHVILLE, Tenn. — Mitsubishi Motors announced on Tuesday that it is relocating its North America headquarters from California to Tennessee, a move that will bring the Japanese automaker closer to its sister company Nissan and strengthen Tennessee's growing reputation as an epicenter of the automotive sector. Tennessee Gov. Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe — who made the announcement with Mitsubishi Motors North America — say the headquarters move from Cypress, California, to Franklin, Tennessee, will result in an $18.25 million investment in the region and approximately 200 jobs. Lee and Rolfe added that they met with Mitsubishi's global executives last week to convince them to move to Tennessee while in Japan during the Republican governor's first trade mission. It is unclear what financial incentives state officials offered Mitsubishi to move to Tennessee. "As we drive toward the future, this is the perfect time for us to move to a new home. While we say farewell to the Golden State with a heavy heart, we're excited to say hello to Music City," Fred Diaz, Mitsubishi Motors North America's president and CEO, said in a statement. Franklin is located just south of Nashville, also known as "Music City," and is home to the state's most powerful Republicans, ranging from Gov. Lee, U.S. Sen. Marsha Blackburn and House Speaker Glen Casada. "Over the years, Tennessee has become the epicenter of the Southeast's thriving automotive sector, and I'm proud Mitsubishi Motors will call Franklin its U.S. home and bring 200 high-quality jobs to Middle Tennessee," Lee, who took over the office this year, said in a statement. Mitsubishi Motors' North America headquarters has been located in California since 1988. The company expects the relocation will begin in August and will be completed by the end of the year. Initially, a temporary office will handle operations to allow the company time to identify a permanent office. Company officials say the move is part an ongoing effort to "reinvent every aspect of Mitsubishi Motors in the U.S.," as well as strengthen the Renault-Nissan-Mitsubishi Alliance. Nissan has a production plant in Smyrna, Tennessee, and owns a 34% stake in Mitsubishi Motors. Last week, Mitsubishi Motors Corp.

Nissan CEO plans to deliver 'raw details of the misconduct' to Renault

TOKYO/PARIS — Nissan Motor's CEO plans to meet one-on-one with the deputy CEO of automaking partner Renault in Amsterdam this week, sources told Reuters, amid tensions over the future of the alliance after Chairman Carlos Ghosn's arrest last month. The meeting would be the first face-to-face interaction between Nissan's Hiroto Saikawa and Renault's Thierry Bollore since Ghosn was arrested on Nov. 19 in Tokyo. It would take place alongside regular top-level, monthly talks between the partners and Mitsubishi Motor Corp that will be held over two days from Tuesday, according to one of the sources familiar with the matter. Saikawa, who took over from Ghosn as CEO last year, is planning to discuss at the meeting with Bollore possible changes to the partnership's management and operations with an eye to continuing the alliance, another source who is close to Nissan's management said. The talks in Amsterdam could provide Saikawa with an opportunity to try and convince Renault executives of the gravity of Ghosn's alleged misconduct discovered during an in-house investigation by the Japanese automaker. They are being held a day after Saikawa rebuffed a demand from Renault for an extraordinary shareholder meeting that would have offered the French car maker a chance to weigh in on Ghosn's replacement as chairman and on other Nissan board appointments. Mitsubishi Chairman Osamu Masuko said late on Monday he will attend the Amsterdam meetings via video conference. A Nissan spokesman said Saikawa would attend meetings with alliance partners in Amsterdam from Tuesday, but declined to comment on the possibility of the one-on-one meeting with Bollore. Ghosn was charged last week alongside alleged accomplice Greg Kelly and Nissan itself over the company's failure to declare $43 million in deferred income that Ghosn had arranged to be paid while chairman and CEO. Both men remain in custody. The scandal has shaken the Renault-Nissan-Mitsubishi alliance, with Saikawa calling for changes to weaken Renault's control as he moved to oust Ghosn in the week of his arrest. Renault directors were briefed last week on the Nissan investigation that led to Ghosn's arrest but reiterated their earlier decision to keep him in office as chairman and CEO. But the Renault board has yet to be given direct access to Nissan's findings, which are being closely held by Renault lawyers answering to Ghosn's long-standing chief of staff and head of legal affairs at Renault, Mouna Sepehri.

Nissan previews new Sway hatchback concept bound for Geneva

Nissan has announced a new concept it's bringing to the fast-approaching Geneva Motor Show with the release of the teaser image above. Bearing the name Sway, the concept previews the Japanese automaker's vision for a new small hatchback for the European market – ostensibly to replace the current model known as the Micra in Europe and Canada and as the March in other parts of the world. There's little to go on from the teaser, but it will clearly adopt the company's latest grille shape, flanked by angled LED headlights and with the requisite spindly door mirrors (or cameras, as the case may be) and oversized wheels packed into flared arches. Beyond that, Nissan hasn't released much in the way of details, except to say that it would apply the same "innovative design" and "radical thinking" that gave birth to the Qashqai and Juke to the small hatchback segment. THIS SWAY FOR EXCITEMENT - NISSAN AT THE 2015 GENEVA MOTOR SHOW Innovative design and product planning gave birth to Nissan Qashqai and Juke, two of the biggest automotive success stories of recent years. What would happen if the company applied the same radical thinking and quality standards to one of the most important sectors in Europe: the small hatchback? To be unveiled at the 2015 Geneva Motor Show, Sway is a glimpse at how a future generation of small Nissan models could look if the company's striking new design language was applied to a European hatchback. The car will be revealed during Nissan's press conference on March 3rd at 11.30am. About Nissan in Europe Nissan has one of the most comprehensive European presences of any overseas manufacturer, employing more than 17,600 staff across locally-based design, research & development, manufacturing, logistics and sales & marketing operations. Last financial year Nissan plants in the UK, Spain and Russia produced more than 675,000 vehicles including award-winning crossovers, small cars, SUVs, commercial vehicles and electric vehicles, including the Nissan LEAF, the world's most popular electric vehicle with 96% of customers willing to recommend the car to friends. Nissan now offers a strong line-up of 23 diverse and innovative models in Europe under the Nissan and Datsun brands.