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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn

TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.

Mitsubishi Motors to relocate North America HQ to Tennessee

NASHVILLE, Tenn. — Mitsubishi Motors announced on Tuesday that it is relocating its North America headquarters from California to Tennessee, a move that will bring the Japanese automaker closer to its sister company Nissan and strengthen Tennessee's growing reputation as an epicenter of the automotive sector. Tennessee Gov. Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe — who made the announcement with Mitsubishi Motors North America — say the headquarters move from Cypress, California, to Franklin, Tennessee, will result in an $18.25 million investment in the region and approximately 200 jobs. Lee and Rolfe added that they met with Mitsubishi's global executives last week to convince them to move to Tennessee while in Japan during the Republican governor's first trade mission. It is unclear what financial incentives state officials offered Mitsubishi to move to Tennessee. "As we drive toward the future, this is the perfect time for us to move to a new home. While we say farewell to the Golden State with a heavy heart, we're excited to say hello to Music City," Fred Diaz, Mitsubishi Motors North America's president and CEO, said in a statement. Franklin is located just south of Nashville, also known as "Music City," and is home to the state's most powerful Republicans, ranging from Gov. Lee, U.S. Sen. Marsha Blackburn and House Speaker Glen Casada. "Over the years, Tennessee has become the epicenter of the Southeast's thriving automotive sector, and I'm proud Mitsubishi Motors will call Franklin its U.S. home and bring 200 high-quality jobs to Middle Tennessee," Lee, who took over the office this year, said in a statement. Mitsubishi Motors' North America headquarters has been located in California since 1988. The company expects the relocation will begin in August and will be completed by the end of the year. Initially, a temporary office will handle operations to allow the company time to identify a permanent office. Company officials say the move is part an ongoing effort to "reinvent every aspect of Mitsubishi Motors in the U.S.," as well as strengthen the Renault-Nissan-Mitsubishi Alliance. Nissan has a production plant in Smyrna, Tennessee, and owns a 34% stake in Mitsubishi Motors. Last week, Mitsubishi Motors Corp.

2016 Mitsubishi Outlander First Drive

"There is a golden hour between life and death. If you are critically injured you have less than 60 minutes to survive. You might not die right then; it may be three days or two weeks later – but something has happened in your body that is irreparable." That quote is from Dr. R. Adams Cowley, widely viewed as the father of modern-day trauma medicine. It's an apt description of the straits Mitsubishi finds itself in here in the United States. The company's golden hour has been a long time coming, but with the death of the Lancer Evolution, and a stable that consists of the ancient Lancer, the lamentable Outlander Sport and the abhorrent Mirage, the 2016 Outlander marks the start of this vital 60 minutes. It was with this in mind that we shipped out to San Francisco to test the company's latest compact CUV. Technically a facelifted version of the crossover that debuted at the 2012 Los Angeles Auto Show, Mitsubishi made over 100 changes as part of this refresh. The exterior changes strip away some of the Outlander's boring, conservative elements in favor of a new design language called "Dynamic Shield." Most of the work is from the A-pillars forward, where an assertive chrome-lined grille, restyled headlights, and a new hood are found. Larger LED taillights sit in back, along with chrome elements. As is the fashion nowadays, LED running lights have been added as standard, while the GT gets LED low beams and halogen high beams, as well. The cabin receives similarly small upgrades, updated materials, and a new navigation system. Plastic is the dominant surface, although it's no better or worse than the stuff usually encountered in this segment. Mitsubishi added piano-black accents on the bottom half of the leather-wrapped steering wheel and around the touchscreen navigation system, to class up the cabin. The cloth seats on the entry level models have also been updated, although the leather on the mid-range SEL and top-of-the-line GT we drove is unimpressive. The same can be said of the seats themselves, which are wide and unsupportive, particularly if you suffer from lower back issues, as your author does. You'll get eight-way powered adjustments on the SEL and GT, although lesser trims get by with manually-operated, six-way adjustability. Neither of those setups include lumbar adjustments. The steering wheel tilts and telescopes, at least, regardless of trim level. A standard third-row of seats has long been one of the Outlander's strongest points.