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Mitsubishi celebrates 40 years in the U.S. with special-edition Outlander

Mitsubishi's North American division is celebrating its 40th birthday by releasing a special-edition Outlander called the Anniversary Edition. The commemorative SUV receives a specific two-tone paint job, "40th Anniversary" emblems, and more equipment and features. Dodge and Plymouth sold Mitsubishi models as captive imports for over a decade before the Japanese company established an American division in Fountain Valley, California, in 1981. Sales started in 1982 for the 1983 model year with a range that consisted of the Cordia, the Tredia, and the Starion. Fast-forward to 2023 and the Outlander gets the honor of celebrating 40 years of Mitsubishi in the United States. You don't need to be a seasoned car-spotter to tell the Outlander 40th Anniversary Edition apart from the regular-production model. Visually, it stands out with Black Diamond paint, a bronze-painted roof, a bright "OUTLANDER" emblem on the hood, and a rear bumper protector. Inside, it offers scuff plates on the door sills and an illuminated center console. It's based on the range-topping SEL Premium Package trim, so it's relatively highly-equipped: The list of standard features includes leather upholstery, a Bose sound system, and a head-up display. On sale now across the nation, the 2023 Mitsubishi Outlander 40th Anniversary Edition carries a base price of $41,340 including a $1,345 destination charge. For context, the Outlander SEL Premium Package that the Anniversary Edition is based on costs $38,190. The plug-in hybrid version of the Outlander 40th Anniversary Edition offers the exact same list of equipment and edition-specific features but costs $51,340. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mitsubishi confirms pair of MiEV Evolution II electric racecars for Pikes Peak

Preparing for next month's Pikes Peak International Hill Climb, Mitsubishi - the presenting sponsor of this year's PPIHC - has unveiled its entrant for the race: the all-electric MiEV Evolution II. Building off last year's MiEV-inspired entrant, the Evolution II has received numerous improvements, including a more powerful electric drive system, a lower center of gravity and even a more traditional racecar look. Driving a pair of MiEV Evolution II models this year will be Hiroshi Masuoka from Mitsubishi vehicle development and six-time PPIHC motorcycle winner, Greg Tracy.
Both MiEV Evolution II racers employ a quartet of electric motors (last year's car used just three), and output has been increased from 280 kilowatts (375 horsepower) up to 400 KW (536 hp). For improved handling, the cars' lithium-ion battery packs help provide lower centers of gravity, and both Masuoka's and Tracy's cars have received active yaw control, stability control and redesigned anti-lock braking systems. Hopefully, this will help them stick to the mountain better. As previously mentioned, even their look has changed, with less of a wide-body i-MiEV feel and more of a racecar appearance. We think the finished product would actually make for a pretty cool Le Mans Prototype racer, or perhaps an electrically powered rival for trackday cars like those from Radical.

Nissan to pull out of venture fund with Renault in cost-cutting drive, insiders say

TOKYO — Nissan is likely to pull out from a venture capital fund it runs with alliance partners Renault and Mitsubishi Motors, as part of the Japanese automaker's drive to cut costs and conserve cash, two sources said. Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month, the two Nissan insiders told Reuters, declining to be identified because the information has not been made public. The likely move comes after Nissan's junior partner, Mitsubishi Motors Corp, told an alliance meeting last week that it would no longer continue to inject money into the fund, one of the sources said. The decision to leave the Amsterdam-based fund was all but a done deal, the other source said, adding: "Of course we're out. The house is on fire." A Nissan spokeswoman said it was speculation and declined to comment. A Mitsubishi spokesman said no decision had been made. The move comes as Nissan — which has seen its earnings slump — is now facing a downturn in China, its biggest market, due to the impact of the coronavirus outbreak. China sales plunged 80% last month. It also highlights the extent of the automaker's cost-cutting under new CEO Makoto Uchida, who is under pressure for a quick turnaround. Alliance Ventures is aimed at finding "learning opportunities" for the alliance through investing in startups, and is supposed get up to $200 million (153.3 million pounds) a year from the three alliance partners, although it never achieves that full amount, the first source said. It was set up under former alliance head Carlos Ghosn, whose dramatic arrest in Japan culminated in an escape to his childhood home of Lebanon in December. Ghosn faces multiple charges in Japan, including of under-reporting earnings and misappropriation of company funds, all of which he denies. According to its website, the fund was set up with a $200 million initial investment and aims for up to $1 billion by 2023. Portfolio companies include WeRide, a Chinese robo-taxi startup and Tekion Corp, a cloud-based retail platform for cars. "It wasn't established by Ghosn as a way to make money. It was for those learning opportunities we get from investing in smart startups," the first source said. "But given the tough financial situation we are facing, we are looking at investment return." Reporting by Norihiko Shirouzu; Editing by David Dolan/Louise Heavens/Susan Fenton.