2001 Nissan Frontier Sc Crew Cab Pickup 4-door 3.3l on 2040-cars

Auto blog

Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.

Waymo partners with Nissan, Renault on robotaxis outside U.S.

SAN FRANCISCO — Self-driving car pioneer Waymo is teaming up with automakers Renault and Nissan to make its first journey outside the U.S. with a ride-hailing service that will dispatch a fleet of robotaxis in France and Japan. The partnership announced late Wednesday underscores Waymo's ambition to deploy its driverless technology throughout the world in an attempt to revolutionize the way people get around. The Mountain View, California, company can afford to try because it's backed by one of the world's richest companies, Google, which secretly began working on driverless technology a decade ago before spinning off that project into what is now known as Waymo. After launching its ride-hailing service in France and Japan, Waymo intends to explore other European and Asian markets with Renault and Nissan. "This is an ideal opportunity for Waymo to bring our autonomous technology to a global stage," Waymo CEO John Krafcik said. Waymo, Renault and Nissan didn't set a timetable for when their ride-hailing service will launch. They left most other details vague. It seems likely it will still be several years before Waymo will be in a position to pose a serious challenge to Uber, the world's largest ride-hailing service. Although Waymo's self-driving technology is widely considered to be the world's most advanced, it still isn't adept enough to be trusted without a human poised to take control in case something goes awry with the robot. Waymo had hoped to launch a fully autonomous ride-hailing service last year in the Phoenix area, but instead is still keeping human safety drivers in those vehicles more than six months after it rolled out. That service, known as Waymo One, is still only offering rides to a few hundred passengers that previously participated in a test program. Krafcik told the German newspaper Handelsblatt last year that Waymo will likely use a different brand for its ride-hailing services outside the U.S. That could be one reason Waymo is working with France-based Renault and Japan-based Nissan, household names in their home countries. Waymo has previously struck deals with two automakers, Fiat Chrysler and Jaguar, but those involved ordering tens of thousands of vehicles to be equipped with self-driving technology for services in the U.S. So far, Waymo is only using Fiat Chrysler minivans for its Phoenix service. The partnership with Renault and Nissan also involves a long-time alliance they formed with Mitsubishi.

Carlos Ghosn says his family played no role in escape from Japan

Men guard a vehicle as it arrives at the home where former Nissan Chairman Carlos Ghosn is staying in Beirut, Lebanon, Thursday. / AP   BEIRUT — The family of former Nissan boss Carlos Ghosn played no role in his escape from Japan, Ghosn said in a statement on Thursday, days after his abrupt arrival in Beirut from Tokyo, where he faces trial for alleged financial misconduct. "There has been speculation in the media that my wife Carole, and other members of my family played a role in my departure from Japan. All such speculation is inaccurate and false," said the statement. "I alone arranged for my departure. My family had no role whatsoever." Sources close to Ghosn said he was prompted to flee after a recent court session in which he learned that the second of two trials would be delayed until April 2021. "They [prosecutors] said they needed another whole year to prepare for it. ... He was distressed about not being able to see or speak to his wife," one of the sources close to Ghosn said. A request to see or speak to his wife over Christmas was also denied, the sources added, part of strict conditions set on his bail. The sources said Ghosn had grown distressed that authorities were pressuring his family to draw a confession from him after his daughter and son were questioned by Japanese prosecutors in the United States in early December. Government/Legal Nissan Renault