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Nissan, Mitsubishi confirm plans to invest in Renault EV unit Ampere

PARIS — Renault's longstanding alliance partners Nissan and Mitsubishi confirmed plans to invest in the French car maker's electric vehicle unit Ampere and use it to develop EVs for the European market, the companies said on Wednesday. After years of contentious partnership, the announcement on Wednesday confirms that the new alliance between the three automakers is smaller and more pragmatic, focusing on regional cooperation. Nissan and Mitsubishi confirmed they would invest respectively up to 600 million euros ($647.46 million) and 200 million euros in Ampere, which has been carved out from the rest of Renault and is due for a public listing next year. Nissan will become "a strategic investor" in Ampere, Makoto Uchida, CEO of the Japanese car marker told reporters, adding the company may use the EV unit's software and connectivity innovations in other markets outside Europe. "Developing electric vehicles all over the world alone would be very challenging," he said. Ampere will develop and manufacture an electric version of the compact Nissan Micra for the European market and a medium-sized electric SUV for Mitsubishi. Renault CEO Luca de Meo said Ampere will cut the costs for the Micra for Nissan by 50%. The alliance partners also confirmed their joint projects in Latin America and India. In September, Renault, Nissan and Mitsubishi ended their common purchasing agreement, which they said would allow them to focus on individual projects and adapt more quickly to regional differences in automotive markets. At the end of July, Renault and Nissan finalised the terms of a restructured alliance after months of negotiations. Talks dragged on for months longer than expected due in part to Nissan, which was concerned about protecting its intellectual property in future collaborations. Related video: Earnings/Financials Green Mitsubishi Nissan Renault Electric

Next-gen Mitsubishi Outlander PHEV gets more power all over

Looks like it's official — the U.S. will finally get the upgraded Mitsubishi Outlander PHEV that's been on sale in Europe and Japan since late 2018. AutoGuide perused documents Mitsubishi filed with the National Highway Traffic Safety Administration for 2021 product lineup. The paperwork shows a 2.4-liter engine with 126 horsepower replacing the 2.0-liter with 117 hp in the current U.S.-market Outlander plug-in hybrid. We've expected the engine change for a while, but we didn't have a horsepower rating before. The version on sale in Europe gets 133 hp from the 2.4-liter Atkinson-cycle four-cylinder, while promising "higher torque, smoother operation, and overall higher efficiency." We'll get the 13.8-kWh battery, up from the 12-kWh unit currently installed, and the rear electric motor gets bumped up to 93 hp, same as overseas. The e-motor on the front axle holds steady at 80 hp. Unless Mitsubishi has model-year shenanigans in mind, the documents describe the next-gen Outlander that's been promised for debut later this year. It will ride on a Renault-Nissan-Mitsubishi Alliance platform, expected to be the same architecture shared with the next-gen 2021 Nissan Rogue. The current Outlander and Rogue are just 0.3 inches apart, and both are expected to grow in size. The new Outlander's exterior will glean cues from the Engelberg Tourer concept (shown below) like vertically-oriented headlights, a reshaped greenhouse, and a larger rear roof spoiler. If Mitsubishi carries over the rest of the upgrades afforded the international Outlander PHEV versions, we're in for a more powerful generator, and new Sport and Snow modes. The suspension and 4WD Lock were also bolstered on the current crossover, but with an all-new generation, we'd expect thorough overhauls in hardware and software. The real prize will be finding out how much EV range the next plug-in hybrid Outlander promises beyond the 22 miles available on the current model. On Japan's testing cycle, the new powertrain extended all-electric driving from 37.8 miles to 40.4 miles. Mitsubishi Engelberg Tourer Concept View 10 Photos Related Video:    

Renault shares hit six-year low on rumors of Nissan split

LONDON — Renault shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the shares were down 3.7%, languishing at the bottom of Paris' CAC 40 and the pan European STOXX 600 index. The plans include war-gaming a total split in engineering and manufacturing, as well as changes to Nissan's board, the Financial Times newspaper reported on Sunday citing several sources. Nissan's contingency planning has ramped up since the dramatic escape of Ghosn, the former head of the Renault-Nissan  alliance, from Japan in late December, it said. The tie-up has been in management turmoil since Ghosn's arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies. He was awaiting trial in Japan when he fled to Lebanon. "We firmly believe the relationship between (Renault and Nissan) and hence the Alliance is broken and is likely beyond the point of repair," Evercore ISI analysts Arndt Elinghorst and Chris McNally wrote in a note on Monday. They have an 'underperform' rating on the French car company. Renault was not available for immediate comment. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Mitsubishi Nissan Renault