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Honda-Nissan-Mitsubishi alliance completes Japan car industry consolidation

Makoto Uchida (left), president and CEO of Nissan, and Toshihiro Mibe, director, president and representative executive officer of Honda, at a press conference in Tokyo on Thursday. (Getty)   Japan’s carmakers are putting the finishing touches on a combine-and-compete strategy for an automotive age defined by batteries and software, with three manufacturers joining forces to complement a separate Toyota Motor Corp.-led coalition. Honda Motor Co. and Nissan Motor Co. agreed this week to build upon a preliminary deal first reached in March, offering more details of how they plan to work together and also adding Mitsubishi Motors Corp. to the mix. While the companies havenÂ’t yet discussed a capital alliance, forming one is a possibility, Honda Chief Executive Officer Toshihiro Mibe said. The partnership will span joint work on software development, batteries and other electric-vehicle components, as well as EV charging and energy services, the three companies said. Their cozying up to one another follows Toyota acquiring stakes in Subaru Corp., Suzuki Motor Corp. and Mazda Motor Corp., and helping them navigate a fraught era for legacy car companies. Whereas Toyota has tied up with its domestic peers from a position of strength — itÂ’s been the worldÂ’s best-selling automaker for four years running — Honda, Nissan and Mitsubishi each are much smaller players on the global stage. Their coming together is seen as a move by JapanÂ’s government to fortify its auto industry in the wake of China having emerged as the worldÂ’s new No. 1 car exporter. “This is coordinated by the government to build a competitive automaking industry,” said James Hong, analyst at Macquarie Securities Korea Ltd., adding that most automakers in Japan are too small to be able to invest in EVs individually. “It feels like a politically driven alliance.” While the US has had the Big Three — General Motors Co., Ford Motor Co. and Chrysler, now owned by Stellantis NV — and Germany similarly has a trio in Volkswagen Group, BMW AG and Mercedes-Benz, Japan has a much bigger crop of carmakers manufacturing vehicles across the globe. Honda, Nissan and Mitsubishi combined sold about 4 million vehicles globally in the first six months of the year, well shy of the 5.2 million that Toyota sold on its own. While the three touted the potential for generating synergies from working together, executives also acknowledged theyÂ’ll have to overcome contrasts with their compatriots.

Nissan-Renault and game developer plan driverless ride-hailing

TOKYO - The Nissan and Renault alliance plans to launch driverless ride-hailing and ride-sharing services in coming years, as the automakers look beyond making and selling cars to survive an industry being quickly transformed by new services. Automakers are leveraging expertise in automated driving functions for mass-market cars to develop mobility services, as they compete with tech firms such as Alphabet Inc and Uber in the fast-growing "pay-per-ride" market which threatens to hit demand for car ownership. Ogi Redzic, head of Nissan-Renault's Connected Vehicles and Mobility Services division, said the alliance would begin self-driving services based on its electric cars "certainly within 10 years," though not likely before 2020. "We think that the big opportunity for us is in automation, electric vehicles and ride-sharing and hailing together," Redzic said in an interview on Thursday. Nissan and Renault join a small group of automakers aiming to enter the ride-hailing market, which Goldman Sachs last month estimated would grow eightfold by 2030 to be five times the size of the taxi market. Redzic said the Japanese and French partners were testing self-driving vehicles, and that any service would run on pre-mapped courses with predetermined pick-up and drop-off points. The two automakers are developing the system with Japanese game software maker DeNA Co Ltd and French public transport operator Transdev SA. German rival BMW AG is also testing autonomous vehicles for use in ride-hailing services, while Uber has been developing self-driving technology. U.S. tech firm nuTonomy Inc and ride services company Lyft Inc, which counts General Motors Co as a major shareholder, this month announced they would begin piloting an autonomous vehicle ride-hailing service in Boston. Redzic said to market a self-driving service, regulations need to change to allow driverless cars on roads. At the moment, most global jurisdictions do not expressly authorise vehicles to operate on regular roads without a driver. "It doesn't just depend on us," he said. "To become fully driverless you need laws to change." Reporting by Naomi TajitsuRelated Video:

Carlos Ghosn's lawyers in Japan quit after client's flight to Lebanon

TOKYO — Japanese attorneys representing Carlos Ghosn, including lead lawyer Junichiro Hironaka, quit on Thursday following the former Nissan chiefÂ’s flight to Lebanon from Japan, where he had been fighting financial misconduct charges. Hironaka had been representing Ghosn in his defense against financial misconduct charges. His move, announced Thursday, was widely expected after Ghosn escaped to Lebanon late last month. A second lawyer in GhosnÂ’s three-person legal team, Takashi Takano, also quit on Thursday, according to an official at his office. A person who answered the telephone at the office of the third lawyer, Hiroshi Kawatsu, said she did not know if he still represented the former automotive executive. Hironaka said in a statement that the entire team working on the case at his office will quit but did not outline reasons. He has said before he felt some empathy for Ghosn's reasons for escape, while stressing he had hoped to win vindication in court. Hironaka is respected for winning high-profile cases in this nation where the conviction rate is higher than 99%. Among the cases he has handled is that of Atsuko Muraki, a Welfare Ministry official accused of falsely approving a group to qualify for mail discounts. She was acquitted in 2010. Also Thursday, Nissan released steps it was taking to prevent a recurrence of Ghosn's scandal, and reiterated its denouncement of Ghosn. The automaker said in a report submitted to the Tokyo Stock Exchange that Ghosn had the authority to “single-handedly” determine directors' compensation and such information was not shared with other departments at the company. The underreporting of his future compensation is among the allegations Ghosn faced in Tokyo. In a news conference last week in Beirut, Ghosn insisted again that he was innocent of the charges, which also included breach of trust in diverting Nissan money for his personal gain. He said he fled because he felt he could not expect a fair trial in Japan. Ghosn's flight while he was out on bail awaiting trial means his case will not go on in Japan. Interpol has issued a wanted notice but his extradition from Lebanon is unlikely. Ghosn has accused Nissan and Japanese officials of conspiring to bring him down to block a fuller integration of Nissan with its French alliance partner Renault SA of France. Ghosn, who has signed on an international team of lawyers, has expressed willingness to stand trial in Lebanon.