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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.

Nissan says next Rogue coming September 10

The Nissan Rogue has been around since 2007, and after nearly seven years on the market, it's about due for replacement. Which is just what Nissan has announced is coming up next down the pipeline.
The Japanese automaker didn't reveal much to go with this teaser image of the headlight and front fender, saying only that "the all-new 2014 Nissan Rogue will push the envelope of CUV design starting on September 10 when it is unveiled." That's the day on which the Frankfurt Motor Show opens its doors for press previews, so it's pretty safe to say that we'll be seeing it at the Messe.
The news follows the spy shots we brought you two weeks ago. Expect the design to follow the lead set forth by the Hi-Cross concept from Geneva last year, with production to take place in Tennessee.

2015 Nissan Pulsar and Pulsar Nismo Concept show Jekyll and Hyde for the hatch

Nissan is showing two very different sides of its new Pulsar five-door hatchback (on the right) at the 2014 Paris Motor Show. On one hand you get to see the standard version hoping to take the fight to popular European models like the Volkswagen Golf and Ford Focus, but also on the stage is our first glimpse at the Pulsar Nismo Concept (above) that demonstrates the vehicle's more devilish side.
The standard Pulsar is hoping to make a dent in the Euro C-segment ranks. It rides on the same platform as the Nissan Qashqai crossover and is actually about 2.4-inches longer than the Golf. Power comes from a trio of choices. There are 1.2-liter and 1.6-liter turbocharged gasoline engines with 113 horsepower and 187 hp, respectively, and a 1.5-liter diesel with 108 hp. CVTs are offered with them all. The Pulsar is also available with a variety of safety tech, including forward emergency braking, lane departure warning and blind spot monitoring.
However, the real excitement comes from the new Nismo Concept. Nissan is clear that it's "only a design study at this stage," but the sporty hatch imagines a flagship for the Pulsar range. It gets the full suite of Nismo goodies with a suspension dropped to the floor and sharper steering. The exterior also benefits from big air intakes in the front bumper, a rear diffuser with central exhausts, flared fenders and carbon fiber trim pieces. The whole thing is finished in satin gray with the division's traditional red trim. The interior has the same motif with race seats and a three-spoke steering wheel.