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Renault to propose joint holding company with Nissan, Nikkei reports

TOKYO — Renault SA will propose to Nissan Motor Co a plan to create a joint holding company that would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal number of directors to the new company in which ordinary shares in both Nissan and Renault would be transferred on a balanced basis, the newspaper said, without citing sources. This would effectively dilute the stake held by the French government in Renault to around 7-8 percent, from its current 15 percent, it added. The new company would be headquartered in a third country, such as Singapore. Renault plans to make the proposal to Nissan soon, the Nikkei said, having modified an earlier merger idea that Nissan rejected on April 12. Nissan declined to comment on the issue. The Financial Times newspaper reported that both Nissan and the Japanese government have refused to engage in merger talks with Renault. The report of the proposal comes as the outlook for the alliance — one of the world's top automaking partnerships — has clouded since the arrest in November of its main architect, Carlos Ghosn, for suspected financial misconduct. It also comes as Nissan's financial performance struggles following years of focusing on volume sales over building its brand, particularly in the United States, its biggest market. Nissan slashes its forecast This week, the Japanese automaker slashed its profit forecast for the year just ended to its lowest in nearly a decade, citing weakness in its U.S. operations. Renault for years has been vying for a closer merger with Nissan, which it rescued from the brink of bankruptcy two decades ago. Ghosn had been working to achieve a deeper integration before his arrest on financial misconduct charges in November last year. While the automakers have been consolidating many of their operations over the past decade, including procurement and production, many executives at Nissan have opposed an all-out merger with Renault. Instead, Nissan has argued for a more equal footing with Renault, which holds a 43 percent stake in its bigger partner. Nissan holds a 15 percent stake in Renault. It was unclear whether Renault would hold the casting vote in major decisions at the new company, as it did in Renault-Nissan B.V., a strategic management company jointly held by both companies that oversaw operations for the partnership.

Mitsubishi considering a small pickup for the United States

Mitsubishi hasn’t sold a pickup truck in the United States since the Mighty Max in the late 1990s, but there is mounting evidence that the brandÂ’s dry spell may end. At a recent vehicle launch, Carson Grover, the brandÂ’s director for product planning, said the company is considering a new pickup for the U.S. market but acknowledged the challenges involved with doing so. Reported by The Drive, Grover said pickup trucks were “another one of those things we want to try to figure out.” The problem with those ambitions is the Chicken Tax, a heavy 25% tariff on imported trucks. That insane percentage is why Toyota and Nissan build trucks here, and itÂ’s why we donÂ’t see cool foreign-market trucks like the Volkswagen Amarok. Mitsubishi will need a partner if it plans to bring a truck here, which it conveniently has in its Alliance partner, Nissan. The Frontier could form the basis for a Mitsu pickup, but GroverÂ’s comments suggest the automaker could have other plans. “The Ford Ranger, the old ranger, that was much smaller, had so much volume and was around so long.” He went to namedrop the Ford Maverick as well, which he said fills the small, affordable gap that the Ranger used to occupy. As The Drive pointed out, it might be possible for Mitsubishi to repurpose the existing Rogue platform for a small pickup, but Grover was careful to note that the company isnÂ’t making any announcements on the subject. As is the case with the vast majority of requests for comment on future product, Grover declined to elaborate but did say the company has taken notice of other trucksÂ’ popularity. A new American-market truck could further revitalize the Mitsubishi brand in North America. The automaker recently revived another of its iconic nameplates in late 2022 with Ralliart versions of all its vehicles. MitsubishiÂ’s motorsports arm made a name for itself in the World Rally Championship starting in the late 1980s, and some of the coolest cars to wear the brandÂ’s badge have also been stamped with the Ralliart name. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2018 Mitsubishi Eclipse Cross Quick Spin Review | Deserving of a clean slate

The 2018 Mitsubishi Eclipse Cross is named after a sport compact coupe, which was iconic to some and a sad reminder of its brand's slide into irrelevance to most others. That "Eclipse" is now attached to a compact SUV will likely cheese off the former and cause the latter to sarcastically mutter, "Yup, that seems about right." Mitsubishi's marketers would say it shares the old Eclipse's "reputation for driving dynamics and technology." Do with that what you will. For now, though, let's put aside what it's called. Well, beyond the fact it's comically long to say and difficult to type (I started calling it the Eagle Talon Cross for those reasons). Because really, the name straps a whole load of baggage to a mostly clean-slate vehicle that in concept is actually a smart move by a brand trying to climb back to relevance. In size, it straddles the line between B- and C-segment compact SUVs. In shape and style, it's set apart from the more utilitarian entries of both. Under the hood, it provides torque-rich turbocharged grunt in contrast to meek naturally aspirated rivals. The ample ground clearance and standard all-wheel drive (on most trims) take a page from the Subaru playbook that's been moving the chains so well. As we discovered when we compared its specs to those of vaguely similar SUVs, the Eclipse Cross is far more intriguing and potentially competitive than originally thought. Perhaps it's unfair to the car itself, but besides all that baggage attached to its name, it's also saddled with the expectations of recent Mitsubishi products that have been uncompetitive, dull or just plain bad. (The i-Miev is the worst and most embarrassing car I've ever driven, and I've driven a Yugo.) In short, the Eclipse Cross warrants a clean-slate appraisal. Sure, it shares its wheelbase with Mitsubishi's two Outlander SUVs and certainly other components as well, but in appearance, touch and driving feel, the Eclipse Cross is profoundly different. This is immediately obvious in the cabin that's far more contemporary in appearance. If you think it looks a bit like the Lexus NX interior, you certainly wouldn't be alone, right down to its touchpad tech interface (more on that later). Materials quality is also strong, and not just in comparison to its brand mates, but to the compact SUV segment as a whole.