2010 Mitsubishi Lancer Evolution on 2040-cars

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Toyota, Daimler Truck, Hino and Mitsubishi Fuso join forces

TOKYO — German truck maker Daimler, JapanÂ’s top automaker Toyota and two other automakers said Tuesday they will work together on new technologies, including using hydrogen fuel, to help fight climate change. The companies said Mitsubishi Fuso Truck and Bus Corp., whose top stakeholder is Daimler Truck, and Hino Motors, the truck maker in the Toyota group, will merge. Daimler Truck and Toyota Motor Corp. will equally invest in the holding company of the Mitsubishi-Hino merger, they said without giving a dollar amount for the deal. The companies plan to cooperate in reducing carbon emissions and developing other technologies such as autonomous driving, net-connected services and electric vehicles. “This collaboration among our four companies is a partnership for creating the future of commercial vehicles in Japan and the future of a ‘mobility society,Â’ said Toyota Motor Corp. Chief Executive Koji Sato. The two truck companies will work on commercial vehicle development, procurement and production to become globally competitive, the executives said. “We at Daimler Truck are very proud of our products, because trucks and buses keep the world moving. And soon they will even do so with zero emissions,” said Daimler Truck Chief Executive Martin Daum. “TodayÂ’s announcement is a crucial step in making that future work economically and in leading sustainable transportation.” Automakers are rushing to keep up with the global shift toward less polluting vehicles and to help in other ways to combat climate change. Commercial vehicles like trucks and buses are major contributors to auto emissions. In some cases rivals are joining forces to gain a a competitive edge and cut costs through “economies of scale” of by sharing knowledge and resources. “It is hard to go at it alone. Working together is crucial,” Sato said, Fuel cells power ToyotaÂ’s buses in Japan but its strength has been in hybrids, which have both electric motors like EVs and gasoline engines. Consumer acceptance of battery powered EVs has come faster than expected, Toyota officials say, and the company is hard at work on rolling out EVs in various markets. Details of the merger, including shareholding ratios, the company name and its structure will be worked out over the next 18 months, the companies said. They aim to sign a definitive agreement by early next year and close the transaction by the end of 2024. The deal still needs shareholdersÂ’ and regulatory approval.

Junkyard Gem: 1990 Mitsubishi Mirage Sedan

In the early 1970s, Chrysler (lacking funds to develop a brand-new subcompact for the American market) began importing Mitsubishi Colt Galants and putting Dodge Colt badges on them. Chrysler's relationship with Mitsubishi deepened over subsequent decades, with numerous Mitsubishis sold here with Dodge, Plymouth, Chrysler, and Eagle badging. That didn't stop Mitsubishi Motors from selling some of the very same vehicles, though, once sales of Mitsubishi-badged cars and trucks began here in the 1983 model year. Starting in 1979, Colt badges moved over to the front-wheel-drive Mirage, with the Mirage itself appearing here for the 1985 model year. Here's one of those cars, a rare 1990 sedan in a Denver self-service yard. In 1990, Americans could choose between four near-identical versions of this car sold by different marques: the Mitsubishi Mirage, Dodge Colt, Plymouth Colt, and Eagle Summit. The MSRP on the '90 Mirage sedan was $8,559 (about $15,015 in 2022 dollars) and the prices of the other three were so close as to make no real difference; customers could just shop for the best rebates and financing. Americans couldn't get this generation of the Dodge/Plymouth Colt as a sedan, though Canadians could. Most of the Mirages and Summits sold here were hatchbacks, but Mitsubishi and Eagle dealers probably wanted something to compete with the Civic and Corolla sedans of the era. Mitsubishi certainly got its money's worth out of the 4G aka Orion engine family! This is a 1.5-liter SOHC 4G15, rated at 81 horsepower. The early Hyundai Excel (and its Mitsubishi-badged twin, the Precis) got a version of this engine. If you bought the Mirage Turbo, you got a DOHC version displacing 1.6 liters and blasting out 135 horses (but it was only available here until 1989 and just as a hatchback). That 81 horsepower was even less fun than it sounds, in this case, because the original buyer of this Mirage skipped the standard-equipment five-speed manual and paid extra for the three-speed automatic. It has air conditioning, with the "Econo" mode that was so popular among 1980s Japanese cars. Not quite 100,000 miles passed beneath its wheels during 32 years of service. At some point, a set of Mercury Tracer hubcaps was slapped on the unsightly steel wheels. The lug holes don't line up, but who's going to notice? Sold out of the now-defunct Ehrlich dealership in Greeley, Colorado, back when you could buy an Isuzu or a Nissan on the same lot.

Carlos Ghosn: What misconduct is he accused of?

TOKYO — Japan was shocked by news that Nissan Motor Co. Chairman Carlos Ghosn, who was widely respected for rescuing the carmaker from near bankruptcy, was arrested on Monday for alleged financial misconduct. Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday. What is Carlos Ghosn accused of? Nissan CEO Hiroto Saikawa told a packed press conference on Monday night that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to the Tokyo Stock Exchange. Another board member, Greg Kelly, was also deeply involved in the misconduct, Nissan said. Saikawa said he couldn't elaborate as the cases are being investigated by prosecutors, who have declined to comment. Prosecutors said that Ghosn and Kelly conspired to understate Ghosn's compensation over five years starting in fiscal 2010 as being about half of the actual 9.998 billion yen ($88.9 million). Public broadcaster NHK said Nissan paid billions of yen to buy and renovate homes for Ghosn in Rio, Beirut, Paris and Amsterdam, citing unnamed sources. The properties had no business purpose and were not listed as benefits in TSE filings, NHK said. Ghosn, 64, has not been formally charged. The Asahi newspaper reported that he and Kelly had submitted to prosecutors' questions after getting off a plane on Monday afternoon at Tokyo's Haneda Airport. Saikawa confirmed they had been arrested. Ghosn and Kelly have not been seen since, and their exact whereabouts are not known. Suspects are typically taken to the Tokyo Detention Center, which is linked to the Tokyo District Public Prosecutors Office. How did this come to light? Nissan's Saikawa said Ghosn's alleged improprieties came to light through a whistleblower, after which the company began an internal investigation and informed prosecutors. Japanese media reports say the informant is a member of Nissan's legal department. The Asahi reported, without citing sources, that the informant gave the prosecutors information in a plea bargain, implying the person may have provided evidence in exchange for a lighter sentence. How much control did Carlos Ghosn have? After becoming CEO of struggling Nissan in 2001, Ghosn was hailed as the automaker's savior by implementing an aggressive cost-cutting plan.