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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.

Ever wonder how to really pronounce Japanese automaker names?

People tend to get very set in their ways when it comes to the pronunciation of words. Just look at the endless debates over whether or not to say the final 'e' in Porsche (which you should in terms of correct German enunciation). Or the argument about whether to follow the British convention and give the 'u' in Jaguar a special delivery or to say the 'ua' diphthong as more of a 'w' sound, as usually happens in the US.
This short video doesn't answer either of those automotive questions, but it does allow a native Japanese speaker to demonstrate the accepted pronunciations for several, major automakers from the country. One benefit is that it clears up the occasional debate over whether Nissan should be said with a long or short 'i' sound. Also, listen closely to how the female host says Mazda as Matsuda, the way it's actually said in the language. Even if this doesn't change the way you enunciate these brands, at least now you know the accurate way in Japanese.

Nissan alters all CVTs to act less like a stretched rubberband

Among automotive enthusiasts, no one seems to hold a neutral opinion when it comes to continuously variable transmissions. CVTs are either praised for their ability to boost fuel economy or chided for their occasionally poor driving dynamics. Nissan is among the masters of these un-shifting gearboxes in the US, and it uses them in many vehicles in its lineup. However, for the 2015 model year, several models are getting a software update to make their CVTs a bit more like a conventional automatic.
To give drivers the option of feeling gearshifts while on the road, Nissan is adding its D-Step Shift Logic feature to the CVTs in multiple vehicles. Steve Powers, Nissan's senior manager of powertrain performance, told Autoblog the system forces the transmission to "hold a ratio and then shift" to simulate the way that a traditional automatic would. It's simply a change in software, but the company "can't do it to older CVTs," he said, because it would require changes to transmission logic, as well. According to Automotive News, the upgrade is coming to the 2015 Versa, Versa Note (pictured above), Sentra, V6-equipped Altima, Pathfinder and Quest. "We're rolling it out to all programs," said Powers.
Interestingly, buyer perception appears to be pushing the upgrade. John Curl, a Nissan North America regional product manager, told Automotive News that the decision to add the tech partially comes because some owners are bothered that the CVTs aren't changing gears. According to Powers, D-Step "avoids the rubber band feel," that many drivers didn't like. The different sensation of these transmissions seems like something consumers would notice during the test drive, or that the salesperson would inform them about. The same issue cropped up last year when the company was facing customer satisfaction problems among new buyers customers' unfamiliarity with the gearboxes.