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Mitsubishi could race in rallies again, but not with a new Lancer Evo

Mitsubishi could make a long-awaited comeback to the world of rally racing in the coming years. It's open to injecting more performance into its range, but its need for speed won't spawn a new version of the Lancer Evolution. Speaking to investors during a shareholder meeting held in Japan, company boss Takao Kato explained the first step towards making quicker, more exciting cars was reviving the Ralliart brand in May 2021. "We plan to expand [Ralliart] to a wide range of models as genuine accessories first, but we will also consider involvement in rallies," the CEO stated, according to Japanese publication Response. Crucially, a racing program has not been approved yet. How a potential return to rallying would be orchestrated remains to be seen. In the past, Mitsubishi's rally superstar was the Lancer Evolution (pictured), which retired without a successor in 2015. The firm's current range consists of crossovers, SUVs, and pickup trucks with the exception of the Mirage, which is likely too small to credibly turn into a rally car. While it's tempting to speculate a return to racing will bring the Evo back to the range, even without a Lancer to build it on, Kato doused cold water on the years-old rumors mapping out the nameplate's future. He stressed a next-generation Evo is not in the pipeline, even though Mitsubishi's shareholders are requesting one. "Electrification is expensive, and we're still not strong enough. We ended the previous fiscal year with a big deficit," Kato said. "First, we need to revive the company. Then, we'll look into putting out the cars fans are waiting for." His plans to revive the company include launching a number of mainstream models in rapid-fire succession. The Mirage, the Eclipse Cross, and the Outlander Sport recently benefited from an array of updates, most of which were reasonably well received, and the new Outlander was unveiled earlier in 2021 with dramatic improvements. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Spectator killed in seventh stage of Dakar Rally

Not surprisingly, tragedy has struck at the Dakar Rally this year. A vehicle hit a spectator in the seventh stage of the rally on Saturday, along the stretch between Uyuni, Bolivia, and Salta, Argentina. Running in 52nd place, the Mitsubishi Lancer driven by French contestant Lionel Baud hit a 63-year-old spectator. Emergency medical personnel responded to the accident, only to declare the man dead on the scene. This was the second time a competing vehicle collided with spectators in this year's event. During the Prologue stage a week ago, Guo Meiling drove her Mini into a crowd of spectators, injuring eleven – including a father and son who were hospitalized in critical condition. This is the first time, however, that a death occurred as part of the rally since 2013, when a support vehicle collided with two taxis in Peru and killed two. Though still in progress, this year's rally has been dominated thus far by the Peugeot team. All but the opening Prologue stage have been won by the French team, with Sebastien Loeb winning three out of six full stages run so far. His teammate Stephane Peterhansel has won another two, while Carlos Sainz won the tragic seventh stage on Saturday. Following Sunday's rest day, there remain another six stages before the rally concludes in Rosario on January 16.

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.