1995 Mitsubishi 3000gt Vr-4 Coupe 2-door 3.0l on 2040-cars

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Nissan, Renault in talks to merge as one company

Nissan and Renault have been tied together as an alliance for nearly 20 years, but now the Japanese and French automakers are discussing whether to merge. Bloomberg, citing unidentified sources familiar with the confidential talks, reports that the idea is to form a larger, single publicly traded company to better compete against giants like Toyota and Volkswagen. It would also mark the end of the alliance that first began in 1999 and also includes Mitsubishi, in which Nissan acquired a controlling interest in 2016. A full merger would help the companies pool resources to develop electric vehicles, autonomous vehicles and car-sharing services. It would involve Nissan giving Renault shareholders stock in the new company, with Nissan shareholders also gaining shares in the new company, Bloomberg reports. The new company would be run by Carlos Ghosn, the current chairman of both companies. But any such merger, as you might expect, would be complicated, in part by geopolitics. The French government owns a 15-percent stake in Renault, and both the French and Japanese governments might be reluctant to let go of their respective home-grown brands. Currently, Renault owns a 43-percent stake in Nissan, while Nissan owns 15 percent of its French partner. Reuters reported recently that Ghosn proposed buying most of the French government's stake in Renault as part of plans for a closer tie-up. The Renault-Nissan-Mitsubishi alliance already has been working to establish a $200 million mobility tech fund to invest in startups, a reflection of how seismic changes in the auto industry have left many legacy companies scrambling to stay current. Nissan in 2016 paid a reported $2.3 billion to acquire 34 percent of Mitsubishi in order to share platforms, technology, manufacturing and other resources. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Patrick T. Fallon/Bloomberg Earnings/Financials Government/Legal Green Mitsubishi Nissan Renault car sharing merger

Carlos Ghosn appears in court: 'I am wrongly accused'

TOKYO — Former Nissan Chairman Carlos Ghosn told a Tokyo court on Tuesday that he was innocent, defending his honor in his first public appearance since he was arrested on Nov. 19 and charged with false financial reporting. "Your honor, I am innocent of the accusations against me," Ghosn told the judge, speaking firmly and calmly as he read from a statement. "I am wrongfully accused." Prosecutors have charged Ghosn, who led a dramatic turnaround at the Japanese automaker over the past two decades, with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015. They also say he is suspected of having Nissan temporarily take on his investment losses from the financial crisis. Seen for the first time since his November arrest, Ghosn was wearing a dark suit without a tie, and plastic slippers, and looked thinner and with gray hair. He rebutted the allegations against him point-by-point and said he had the option to leave Nissan but had decided to stay on. "A captain doesn't jump ship during a storm," he told the court in a strong voice. The veteran auto executive, a familiar face at the World Economic Forum and other elite gatherings, was handcuffed and led into the courtroom with a rope around his waist as the hearing began. Officers uncuffed him and seated him on a bench. Presiding judge Yuichi Tada then read out the charges and said Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, was considered a flight risk — he was arrested on his arrival in Tokyo by private jet — and might try to hide evidence. In Japan, suspects are routinely held without bail, often due to fears about evidence tampering. During Tuesday's hearing, Go Kondo, one of Ghosn's lawyers, argued he was not a flight risk. "He's widely known so it's difficult for him to escape. There is no risk that the suspect will destroy evidence," he said. Facing the courtroom, Ghosn spoke proudly of the automaker's — and his own — achievements, such as reviving iconic models like the GT-R and the Z, expanding operations in China, Russia, Brazil and India and pioneering electric cars and autonomous driving. "I have a genuine love and appreciation for Nissan," he said. Ghosn has been held in spartan conditions at a Tokyo detention facility since he was taken into custody. In keeping with Japanese regulations, he has been allowed visits only from his lawyers and consular officials.

Mitsubishi celebrates 100-year-old car with PHEV re-creation

Back in 1917, Mitsubishi Shipbuilding Co. made its foray into the automotive world with the Model A. It had a production run of just 22 units, but it was enough to make Mitsubishi Motors possible as a car company. Now, 100 years later, Mitsubishi Motors North America (MMNA) is revisiting its roots, but with a contemporary touch, by re-creating the car with the help of West Coast Customs. The California-based shop will build a Mitsu Model A with its original, century-old looks, but with a modern, advanced plug-in hybrid powertrain and a host of current technology. The custom Model A will celebrate a century of Mitsubishi by building the Model A on the Outlander PHEV platform. Despite its 21st-century capabilities, the centennial celebration vehicle "will feature all the distinctive aspects of the 1917 vehicle," according to MMNA Senior Director of Marketing Francine Harsini. The original Model A was powered by a 2.8-liter four-cylinder engine making 35 horsepower. The Outlander PHEV, upon which the new Model A will be based, uses a 2.0-liter gasoline engine and two electric motors providing power to all four wheels. West Coast Customs will build the plug-in Mitsubishi Model A at its facility in Burbank, Calif., with plans to finish it this summer. An episode of the Inside West Coast Customs show on the Velocity channel will feature the build of the centennial Model A. Related Video: Related Gallery 2017 Mitsubishi Outlander PHEV: New York 2016 View 15 Photos News Source: Mitsubishi Green TV/Movies Mitsubishi Automotive History Electric Hybrid PHEV