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Mitsubishi's new Outlander could herald the return of Ralliart

Mitsubishi is on the cusp of reviving its dormant Ralliart performance line, and a new report suggests the label will return on a sportier version of the latest Outlander PHEV. The model could make its debut in late 2021. Ralliart's unexpected revival was announced during a presentation made to investors in May 2021, though no further details were released. Japanese magazine Best Car learned from unnamed sources that the new Outlander PHEV (pictured) expected to break cover in the coming months will be the first Ralliart-branded model in several years. How Mitsubishi will make the Outlander PHEV worthy of a name rooted in rallying remains to be seen. The transformation will include a race-inspired body kit, according to Best Car, and we're hoping more power from the electrified powertrain is part of the equation as well. While the Ralliart label could merely denote a sporty-looking trim level, like Mercedes-Benz's AMG Line designation or F Sport in Lexus-speak, there's a chance it will sooner or later be linked to racing. Mitsubishi boss Takao Kato revealed his team is considering returning to the rallying scene in the coming years to renew ties with the company's racing heritage. He stressed a rally program hasn't been approved yet, partly because racing is expensive, and he clarified that a new Lancer Evolution is not in the cards even though shareholders are requesting one. Interestingly, we should have seen the Outlander Ralliart already; it was reportedly scheduled to be unveiled at the 2021 edition of the Tokyo Motor Salon but the event was canceled due to pandemic-related concerns. Mitsubishi could keep the model under wraps until the 2022 show opens its doors, or it might introduce it elsewhere a little earlier. Regardless, if the report is accurate we won't have to wait long to find out how Ralliart has been reinvented. As for the next Outlander PHEV, it will land in late 2021 first in Japan and arrive in U.S. showrooms halfway through 2022. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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:

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.