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Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan

Mitsubishi, Nissan will build mini EV together

That minicar project that erstwhile competitors Nissan and Mitsubishi launched about four years ago is about to go a little more maxi. NMKV Co., the joint venture established in June 2011 by the two Japanese automakers to make minicars, is going to get more resources specifically to ease a move into the electric-vehicle sector. Specifically, Nissan, which makes the all-electric Leaf, is going to have a bigger role in the testing, design, and development of the partnership's mini EVs. A memorandum of understand between Nissan and Mitsubishi, maker of the i-MiEV, is in the works. So far, the joint-venture has sold about 500,000 gas-powered three-cylinder compact vehicles under the two automotive brands, so it must be doing something right. The first Nissan Dayz and the Mitsubishi eK Wagon models started production in 2013. Sales of the Nissan Dayz Roox and Mitsubishi eK Space, which went the higher-roof route, began early last year. Nissan and Mitsubishi started making noise about this last summer, when word came out that the little EV may be priced at less than $15,000 in Japan, quite a bit cheaper than either the Leaf or the i-MiEV over there. As with the current models, the future minicar variants will be produced at Mitsubishi's Mizushima factory in Japan. So far, the partnership would only say that details about NMKV's next-generation mini EV will be released "at a later time," so specifics like range and other performance measures will have to wait. Until then, you can take a look at NMKV's press release below. Nissan, Mitsubishi Motors and NMKV reach agreement on planning and development of next-generation minicars Nissan Motor Co., Ltd., Mitsubishi Motors Corporation, and their joint venture NMKV Co., Ltd. today reached an agreement to continue their joint project regarding development of the next generation of current minicar models. The three companies will soon sign a memorandum of understanding. The companies aim to develop more competitive products by optimizing resource allocation and their respective roles and responsibilities. Nissan will be more deeply involved in development operations, such as design development and testing. In addition to its product planning and project development roles, NMKV will strengthen its management capabilities by adding a new department to enhance collaboration with engineering and manufacturing functions. Vehicle production is planned to continue at Mitsubishi's Mizushima Plant.

Mitsubishi teams up with Amazon to unveil 2022 Outlander

We're all familiar with the phenomenon of the oversized Amazon package, where a box large enough for a chandelier arrives on your front step but contains nothing but nail clippers and a half-deflated string of packaging balloons. Well, the largest Amazon package we've seen is now the driveway-sized one said to enclose a 2022 Mitsubishi Outlander. On February 16, the Triple Diamond marque and Amazon are joining forces to debut the carmaker's next mid-sized SUV. The pair have released a teaser showing a massive cardboard box sitting on the driveway of a super swanky house that we're not 100% sure isn't computer-generated. In any case, the point is that it will be the first car to make its debut on Amazon Live, a streaming service that we did not know existed until now. From what we can tell after a cursory skim, it's a YouTube-esque platform but where streamers talk about items that are available for sale on Amazon. And just in case there was any doubt, the teaser video comes with the disclaimer, "Amazon does not deliver vehicles." That's probably a good thing, if you don't want your 2022 Outlander to arrive pre-dented. As part of the launch, Mitsubishi Motors is also giving away one 2022 Outlander to one lucky winner. You can throw your name in the hat at Mitsubishi's website or at Amazon.com/MitsubishiOutlander between February 16 and March 31, 2021. We already have a pretty good idea of what the 2022 Outlander will look like, thanks to leaked photos and Mitsubishi's own teaser video. Its sheetmetal is based on the Engelberg Tourer, named after the Swiss ski resort, and is quite a bold departure from the current Mitsubishi corporate face.  Underneath, we're expecting two drivetrains. One is a Nissan 181-horsepower, 2.5-liter inline-four mated to a CVT for entry-level models. The second is a Mitsubishi-built plug-in hybrid variant mated to a 2.4-liter engine. Early reports say that it could double the battery-only range from 22 to 43 miles. The unveiling will take place at 6:00 pm Eastern Time. Hopefully, no porch bandits steal the box before then. You can see the teaser video here. Related Video: