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Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan

Renault will develop and build the next-generation Nissan Micra

PARIS — French carmaker Renault will develop and assemble the next generation of partner NissanÂ’s Micra models, a senior executive at the Japanese firm said, as the two companies try to reboot their alliance with tighter cooperation in production. Ashwani Gupta, NissanÂ’s chief operating officer, said in an interview with FranceÂ’s Le Monde newspaper published on Monday that the Micra plan was an example of their “leader-follower” strategy, with one firm taking the lead on certain car types. Nissan Micra models are already assembled at RenaultÂ’s Flins factory in France, although that site is set to be turned over to recycling activities around 2024, when the life cycle of the car ranges made there expires. “For the next generation of Micra, we will follow Renault, and we will ask Renault to develop and make the future Micra for us,” Gupta said. Both struggling financially, Renault and Nissan have cleared the decks of old managers and outlined joint cost-saving plans as they try to move on from a scandal surrounding former alliance boss Carlos Ghosn. Ghosn, who fled detention in Japan and is now in Lebanon, denies financial misconduct charges against him.

European jury picks finalists for 2015 Car of the Year

There are countless Car of the Year awards handed out each year, and naturally, Europe has its own way of doing things. Every year, a panel of jurists representing seven publications in seven different languages and seven different countries get together to name their joint Car of the Year. The panel released a list of 32 candidates back in July, and it has now whittled that list down to seven nominees. The list consists of the BMW 2 Series Active Tourer, the Citroen C4 Cactus (shown), the Ford Mondeo, the Mercedes-Benz C-Class, the Nissan Qashqai, the Renault Twingo and the Volkswagen Passat. Of those seven, only two are available in the US – those being the Mondeo (sold Stateside as the Fusion) and the C-Class. The Passat is an entirely different model in North America, the Qashqai isn't offered here, Citroen and Renault don't even participate in our market and the BMW 2 Series is represented here only by the completely different coupe and convertible. Expect the one and only recipient of the 2015 Car of the Year award to be announced at the Geneva Motor Show this coming March, and while you're waiting, you can place your guesses for the eventual winner in Comments. Featured Gallery 2015 European Car of the Year: Nominees News Source: CaroftheYear.org BMW Ford Mercedes-Benz Nissan Volkswagen Citroen Renault car of the year nissan qashqai citroen c4 cactus bmw 2 series active tourer