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Renault will split EV from combustion unit, seeks partnerships

PARIS — Renault has received several partnership proposals for the combustion engine unit it plans to create alongside one dedicated to electric vehicles and software, two sources familiar with the matter said. Renault plans to separate its electric and conventional car businesses, creating two entities to manage the shift towards fossil-free vehicles. "The group has already received partnership demands" for its internal combustion engine unit, one of the sources said. By bringing in partners on the combustion engine side Renault aims to free up funds to invest in electric vehicles, a technology in which it was a pioneer with Nissan and Mitsubishi, but in which it is now eclipsed by pure players such as Tesla. Renault intends to retain majority ownership of its electric division, which will employ about 10,000 people and which could be bourse-listed via an IPO in the second half of 2023. However, it will only remain a reference shareholder, not a controlling shareholder, of the combustion engine unit, which will have similar staff levels, said two other sources familiar with the plans. One of the sources said Renault may hang on to a 40% stake. Renault declined to comment. The carmaker at a capital market day this autumn will set out its plans for its electric arm based in France and the combustion unit headquartered abroad. That entity will include factories producing engines and gear boxes for gasoline and hybrid cars in Spain, Portugal, Turkey, Romania and Latin America. Among potential partners for its combustion engine business, CEO Luca de Meo in April mentioned Nissan, other automotive groups and long-term investors. De Meo is set to travel to Japan next month to discuss potential Japanese participation in its electric and combustion engine projects. Renault is undergoing a major restructuring aimed at restoring its finances and recently signed partnerships beyond its historical alliances with Nissan, Mitsubishi and Mercedes, such as with China's Geely Automobile Holdings. This month it sold 34% of its South Korean unit to Geely, which owns Volvo Cars and is a shareholder in Mercedes. With Geely, Renault plans to develop hybrid vehicles which will be assembled in its plant in Busan, South Korea. Earnings/Financials Green Mitsubishi Nissan Renault

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.

Junkyard Gem: 2006 Mitsubishi Raider DuroCross 4WD

Chrysler began selling Mitsubishi Triton pickups with Dodge D-50 and Plymouth Arrow badging in the 1979 model year, followed by the Mitsubishi Pajero aka Montero with Dodge Raider badges for 1987 through 1989. That Raider name sounded so good that Mitsubishi Motors decided to revive it when they began selling a new pickup based on the Dodge Dakota in the United States. Today's Junkyard Gem is a first-year Mitsubishi Raider, found in a Denver car graveyard recently. The Raider was mechanically identical to its same-year Dakota counterparts and it was built alongside the Dakota at Warren Truck Assembly, but it had its own body and interior designs. The Raider was built for the 2006 through 2009 model years, after which it was discontinued due to poor sales (just under 22,000 total). It wasn't as humiliating for Mitsubishi as the Ascender and I-Series (both thinly disguised Chevrolet models) were for once-proud Isuzu, but that isn't saying much. There's no need for us to bring up the puzzling Suzuki Equator here, is there? This one is a DuroCross, which came with lower suspension, black plastic wheel flares and a front bumper that looked skid-plate-like. It also has the most powerful engine available in the '06 Raider: a 4.7-liter V8 rated at 230 horsepower.  The 4.7 is a member of the Chrysler PowerTech engine family, which has an ancestry stretching all the way back to the American Motors Corporation. AMC began development of new overhead-cam V6 and V8 engines just before Chrysler purchased the company in 1987, and the 4.7-liter V8 made its debut in the 1999 Jeep Grand Cherokee. The 2009 Raider was the last new Mitsubishi pickup sold in the United States, though Mexican truck shoppers can still enjoy mas poder de aventura by buying a new Mitsubishi Triton with L200 badges. Who knows, if it's possible to find Mexican-market Peugeot 407s, Dacia Logans, Dacia Dusters and Opel Corsas in Colorado junkyards, I may yet find a discarded Mitsubishi L200. It was much more intimidating than an ordinary Dakota.