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Nissan is exploring the sale of its 34% stake in Mitsubishi

TOKYO — Nissan is looking to sell some or all of its 34% stake in Mitsubishi Motors, Bloomberg News reported on Monday, citing unidentified sources, a move that would reshape a three-way alliance that includes France's Renault. Nissan shares rose 5% on the news. Mitsubishi Motors was up 3%. "There are no plans to change the capital structure with Mitsubishi," a Nissan company spokeswoman told Reuters in an emailed statement. A Mitsubishi Motors spokesman said the same, adding the company would continue to collaborate within the alliance. Renault did not immediately respond to an email seeking comment. Nissan, struggling to recover from the pandemic-induced downturn, could sell its stake to a Mitsubishi group company such as Mitsubishi Corp, which already owns a fifth of Mitsubishi Motors, Bloomberg said. Such a deal would fundamentally alter a three-way partnership built by Carlos Ghosn, former chairman of the alliance, which plunged into confusion when he was arrested in 2018 on charges of financial misconduct. Ghosn had wanted a full merger of Renault and Nissan, which was shelved, according to Reuters sources, as the companies decided to fix the troubled alliance. The pandemic has, however, compounded problems and made a recovery hard. Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China. Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year. Both companies are cutting production levels and costs in a bid to return to profitability. Related Video:

Nissan sees its EV sales surging to 1 million annually by 2022

YOKOHAMA, Japan — Nissan announced plans to sell 1 million electric vehicles (EVs) annually by 2022, a six-fold jump from what it sold last year, and said it had no plans to stop testing its self-driving cars on public roads, calling them safe. Japan's No. 2 automaker and its rivals are planning to crank up development and production of electric cars in response to tightening emissions regulations around the world, even as demand for such vehicles remains limited due to their high cost and limited charging infrastructure. Launched as the world's first mass-market all-battery EV in 2010, Nissan's Leaf compact hatchback is the world's best-selling EV, though sales have been just around 300,000 units in its lifetime. The company now plans to focus its lower-emissions lineup on all-battery and gasoline-hybrid EVs rather than costlier technologies including plug-in hybrids. Nissan said on Friday it would develop eight new all-battery EVs over the next five years, including four models for China. Its luxury Infiniti brand would begin carrying new electric models from 2021, it added. Through 2022, vehicles powered by its "e-Power" gasoline-hybrid technology would likely comprise the majority of Nissan's electric line-up, it said. Such vehicles use gasoline to power the car's motor, requiring a much smaller battery than EVs and therefore are less expensive to produce. "The heart of our strategy in terms of electrification is battery EVs and e-Power technology," Nissan Chief Planning Officer Philippe Klein told reporters at a briefing. Concerns about EV battery costs and components have prompted many automakers to develop a variety of lower emissions technologies, but Klein said that Nissan would largely forego plug-in hybrids and hydrogen fuel cell technologies, given their low cost-performance at the moment. In 2017, Nissan sold 163,000 electric vehicles globally. Nissan and its automaking partners, Renault and Mitsubishi, together plan to launch 17 electric models as part of their strategy to achieve annual vehicle sales totaling 14 million units by 2022, compared with 10.6 million units in 2017. Self-driving tests to continue Automakers and technology companies are facing mounting pressure to prove that their automated driving functions under development are safe to use on public roads following a fatal accident involving a self-driving car operated by Uber Technologies [UBER.UL] in the United States earlier this week.

Mitsubishi teases next-generation Triton small pickup truck

Though Mitsubishi stopped selling pickup trucks in the U.S. in the '90s, the company never stopped selling them overseas. The Triton, or L200 as it's sometimes called, is in its fifth generation, which was introduced in 2014. Now it seems a sixth generation is on the way, as the company released a low-resolution teaser image of the latest pickup. It features many styling cues from recent Mitsubishi production and concept vehicles. It also probably isn't coming to America, but the odds of a U.S.-spec may actually be better than you might think. The teaser gives us a pretty good look at the new truck, despite the image quality and lighting. It has the "Dynamic Shield" front end, which is pulled straight from current models such as the Eclipse Cross and Outlander. The aggressive shape looks good on this larger body, as it's a little better proportioned when spread across the greater surface area. It looks like the whole body is sharp and angular to match it. But it's still definitely a conventional-looking pickup truck. Since this will be sold in many overseas markets where traditional trucks with traditional off-road capability is necessary, this will undoubtedly be a body-on-frame pickup with part-time selectable four-wheel drive. This is how the current model is constructed. And like the current model, there will likely be a turbocharged diesel four-cylinder available in many parts of the world. There's not much of a chance the new Triton will come to the U.S., but it's also not a 0-percent chance. The small truck market is strong right now, with the Toyota Tacoma and the combined Colorado/Canyon twins selling in six-figure numbers each year. It's strong enough that Ford has seen fit to finally bring the Ranger back to America, and for rumors to run rampant that FCA might reenter the fray with a Ram-badged truck under the fullsize 1500. Mitsubishi's U.S. dealers have also said they really want a pickup truck to sell. Granted, there are still the issues of passing emissions and safety regulations, and finding a way to deal with the Chicken Tax. So there's certainly opportunity here for Mitsubishi, but not without some difficulty. Related Video: